PARIS (Reuters) – French food group Danone said on Monday it had picked outgoing Barry Callebaut boss Antoine de Saint-Affrique as its new chief executive, effective September 15, 2021.
Saint-Affrique had announced on April 22 he was stepping down as CEO of Swiss chocolate maker Barry Callebaut at the end of August, fueling speculation he could be headed for the top job at Danone.
Danone had been looking to replace Emmanuel Faber, who was ousted in March following calls from activist shareholders to replace him after the group’s sales growth and share price performance became sluggish compared to rivals.
“As a board we have delivered on our promise to search and find swiftly the best person to lead Danone through the next phase of our evolution,” Danone Chairman Gilles Schnepp said in a statement released after a meeting of the board.
Several people close to the matter had previously told Reuters that Saint-Affrique was one of the people in the running for CEO, and one had said he was the front-runner for the job.
“This marks a new chapter of leadership and a continuation of how we, as a board, have been transitioning governance at the company for a few weeks already,” Schnepp said.
(Reporting by Dominique Vidalon; Editing by GV De Clercq)
