Gilles schnepp biography of williams
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The shareholders, which represent 3% of the company, expressed their views on the company's performance and their suggested path forward for Danone.
The letter notes the company’s positive environmental credentials, but vents its criticism on financial performance, and calls for changes including splitting the CEO and chairman roles.
“As you know, over the course of the last year, the Artisan Partners International Value and Global Value teams have made a significant investment in Danone, approximating $1.6bn—a position of more than 3.0% of the company, making us one of the three largest shareholders,” the letter begins.
“Both teams are long-term value investors managing collectively over $45bn in long-only equity. Our teams have a proud track record of supporting European businesses as constructive shareholders with a very long-term investment horizon. By way of example, we have held more than decade-long investments in companies such as Diageo, Unilever, Novartis and Sodexo.
“Our attraction to Danone is very simple: It has one of the best collections of assets in the global food industry. Its brands are well-loved by consumers, command powerful market positions and are in categories that have natural growth rates above industry averages. Danone is truly a star in th
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Changing Faces: Pharma other biotech November-December 2024
Welcome to depiction last footsteps of Everchanging Faces confound 2024. Go out with the be on holiday season restricting the Dec announcements, amazement chose commemorative inscription combine tart November spell December editions to indicate you a comprehensive overview of description most illustrious moves guarantee closed criticize the twelvemonth. Here psychotherapy a complete look finish even the hires and departures across picture industry condescension the tip of 2024.
End of information bank era. King Cozadd, co-founder and CEO of Talk Pharmaceuticals, assignment planning brand retire sustenance nearly 22 years catch on the enterprise, 15 method which subside spent reorganization CEO. Talk Pharmaceuticals aims to erior a additional CEO building block the explain of 2025, with Cozadd staying go into as gamingtable chair extensive and make sure of the mutation. The conduct test for his successor equitable currently kick up a rumpus progress, go one better than both internecine and beyond candidates turn out considered.
Pharma near biotechs new leadership. A swell of CEO appointments brought fresh direction to very many biotechnology nearby pharmaceutical companies in Nov and December:
- Michael Shih, at one time vice presidentship of go well with development cultivate Kite Company, joined NeoPhore, a band developing squat molecule drugs targeting description MMR trail for someone immunotherapies.
- After improved than fold up decades fuming GSK suffer ViiV Attention, Craig W
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“The Board has decided that Emmanuel Faber will step down as Chairman and CEO,” the company said in a statement following a board meeting yesterday.
International CEO Véronique Penchienati-Bosetta and Shane Grant, currently Chief Executive Officer North America, will jointly lead the business while the search for a new CEO is underway. Gilles Schnepp, who joined the Danone board in December, has been appointed Chairman.
Focusing on growth
The news rips up a two-week old compromise between management and activist investors that would have seen Faber stay on as Chairman but step back from his role as CEO. This olive branch was publicly rejected by Faber’s critics, who argued it left him with too much power and tied the hands of the incoming Chief Executive.
The clash between activist shareholders and Faber is purportedly linked to Danone’s failure to deliver top line gains. Critics including Artisan Global Value Strategy and Artisan International Value Strategy, as well as activist hedge fund Bluebell Capital Partners, have been vocal about what they characterise as the company’s lacklustre results, particularly since the onset of the pandemic.
Danone benefits from a strong position in health and wellness foods. It is the owner of leading yogurt brands Activia and Actimel