Danone caves to investors and moves CEO

Danone employs around 700 people in its baby food business in Ireland, across operations in Macroom, Wexford and Dublin.

Danone has split its CEO and chairman roles, but it is not enough to appease activist investors.

Dairy and baby food giant Danone has said Emmanuel Faber will step down as chief executive in an attempt to alleviate pressure from shareholders who have called for new management to revive the world’s largest yogurt maker.

Danone said it will separate the chairman and CEO positions, which Mr Faber has held for the past three years. Once the company finds a new CEO, Mr Faber will become non-executive chairman.