The French yogurt empire is under attack. The investment fund Bluebell – which is based in London but was founded by the Italian Giuseppe Bivona – wants to oust Emmanuel Faber, CEO of Danone. The reason is the performance of the share on the Stock Exchange, which – against a capitalization of 37 billion euros – does not satisfy the shareholders. Since 2014, the year in which Faber took over the reins of the group, Danone has gained just 2% on price lists. A pittance, if compared to the +46% achieved in the same period by the Swiss competitor Nestlé.
According to the Financial Times, Bivona – who confirmed to Sun 24 hours that he had invested in Danone – he would have asked Danone's board of directors not only to replace the manager at the helm of the company, but also to separate the role of CEO from that of President, which are currently unified. In response to pressure from Bluebell, Danone said he "appreciates the constructive dialogue with all shareholders", but also stressed that the company "is focused on creating long-term value", recalling how, under Faber's management, the company reported 5o% growth in earnings per share.
