Gilles Schnepp has been named as the new non-executive chair of French food company Danone.
Emmanuel Faber was forced to step down from the role—just weeks after his dual role as CEO/chair was split—following sustained pressure from activist investors.
Véronique Penchienati-Bosetta, currently chief executive officer international, and Shane Grant, currently chief executive officer North America, have been appointed to jointly lead the business while the search for a new CEO is under way.
Schnepp, who joined the Danone board last year, said: “The priority of the board is now to transition towards an improved governance. This means accelerating the process to recruit a new CEO, while Véronique and Shane continue to lead the business during this period. I look forward to working with the board to support them in their interim roles, and the wider management team as they accelerate our efforts to create value for all our stakeholders.”