Danone to sell assets and revamp management in biggest shake-up in years
Danone CEO Emmanuel Faber launches a strategic review of its businesses
19 October 2020 - 19:45
Paris — Danone CEO Emmanuel Faber plans to trim underperforming businesses throughout the company’s portfolio as shares of the multinational food and drinks group languish near a six-year low.
The company is studying a sale of the Vega protein powder brand as well as a unit in Argentina, potentially getting rid of assets with revenue of €500m. Faber said on Monday some divisions could cut 20% to 30% of the products they make. The stock rose 1.4% in Paris until a marketwide trading disruption on Euronext...
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