Danone Names New CEO As Riboud Prepares For Succession
Danone said on Tuesday that Chairman and Chief Executive Franck Riboud would split his role after 18 years at the helm of the world’s largest yoghurt maker, which is grappling with a series of setbacks in Asia and in Europe. 58 year-old Riboud, who took over from his late father, Antoine Riboud, in 1996, will remain as chairman and focus on the group’s long-term strategy while 50 year-old Emmanuel Faber, the chief operating officer, will become CEO, effective Oct. 1.
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