Danone shares edge up after Faber drops CEO role following investor pressure

Danone shares edge up after Faber drops CEO role following investor pressure

PARIS: Danone's shares edged up on Tuesday after the French food group separated the chairman and chief executive roles held by Emmanuel Faber, and launched the search for a new CEO following calls from several shareholders to shake up governance.

Danone shares were up 0.5per cent in early session trading.

Late on Monday, Danone said Faber would remain in the dual Chairman/CEO position until a new CEO was found, and that he would then become non-executive chairman.

(Reporting by Sarah White, Gwenaelle Barzic, Sudip Kar-Gupta; editing by Louise Heavens)

Source: Reuters

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