Activia activist

19 January 2021 By Dasha Afanasieva Follow @dasha_reuters

Bluebell wants the yoghurt maker to split the role of chair and CEO and for boss Emmanuel Faber to quit. His underperformance relative to peers means that Danone should at least do the former. But boosting sales growth will require more than a corporate governance revamp.

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French yoghurt maker Danone said on Jan. 18 it was focused on delivering value for its shareholders after a report by Challenges.fr stating that activist fund Bluebell Partners had taken an undisclosed stake in the French company, and was pushing for governance changes.

In conversations with Danone, Bluebell has called for the role of chief executive and chairman at the food group to be split and for current boss Emmanuel Faber to step down, a person familiar with the matter said.

As of 1000 GMT on Jan. 19, Danone shares were trading at 55.6 euros, up 1.5%.

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