New governance at Danone; Emmanuel Faber resigns from his duties as Chairman and CEO Gilles Schnepp is appointed non-executive Chairman Paris Stock Exchange: BN

Press release – Paris, March 15^e, 2021

New governance at Danone
Emmanuel Faber is stepping down as Chairman and CEO
Gilles Schnepp appointed Non-Executive Chairman

Danone’s Board of Directors today announced major governance changes.

As a first step, the Board decided that Emmanuel Faber would step down as Chairman and Chief Executive Officer. Consequently, he appointed Gilles Schnepp Chairman of the Board of Directors with immediate effect. Second, the Board decided to appoint Véronique Penchienati-Bosetta, currently Chief Executive Officer International, and Shane Grant, currently Chief Executive Officer North America, to jointly lead the company while the search for a new CEO is underway. Véronique Penchienati-Bosetta (CEO) and Shane Grant (Deputy CEO) will work together, with particular focus on operational execution and delivery.

The immediate priority of the new president, along with the board, will be leading the transition, including the search for a new CEO. Danone has appointed an international research agency to support the process. Gilles Schnepp and the governance committee will oversee the search to ensure that a world-leading CEO is found. In his global mission, Gilles Schnepp will be supported by the Executive Vice-President of the Office of the President, Laurent Sacchi, the Chief Financial Officer, Juergen Esser and the entire Executive Committee.

The Board of Directors believes in the need to combine high economic performance and respect for Danone’s unique model of a company with a vocation, built on the strength of its brands and made possible by the exceptional quality of its teams.

Gilles Schnepp, Chairman of Danone, said:

“I am honored to be appointed Chairman of Danone’s Board of Directors at this important time for the company. I have enormous respect for Danone’s history and its contribution to society through its best healthy food and drinks in the world and its commitment to sustainable development. The Council’s priority now is to make the transition to improved governance. This means speeding up the process of hiring a new CEO, while Véronique and Shane continue to lead the company during this time. I look forward to working with the Board to support them in their interim roles, as well as the broader leadership team as they accelerate our efforts to create value for all of our stakeholders.

“The Board and I would like to thank Emmanuel for his leadership and significant contributions to Danone since 1997, and since 2014 as CEO and then Chairman and CEO. His vision and commitment to One Planet. One Health is ahead of the industry and makes Danone a world leader in sustainability. He left Danone with a solid platform to accelerate and develop. I would also like to take this opportunity to thank Danone employees around the world who continue to work to grow and grow the business for all consumers, customers and stakeholders. “

Biographies

Gilles Schnepp

A graduate of the Ecole des Hautes Etudes Commerciales (HEC) in 1981, Gilles Schnepp began his career in 1983 at Merrill Lynch France where he became Vice-President. He then joined Legrand in 1989, holding various positions before being appointed Deputy CEO in 2000. He was appointed to the Executive Committee and the Board of Directors in 2001 and Vice-Chairman and CEO in 2004. Between 2006 and 2018, he was Chairman and CEO of Legrand. Gilles Schnepp was Chairman of the Board of Directors from 2018 to 2020. Since 2020, he has been operational advisor to Clayton, Dubilier & Rice.

He is now also a member of the boards of directors of Legrand, Saint-Gobain and Sanofi.

Véronique Penchienati-Bosetta

Véronique Penchienati-Bosetta joined Danone in 2001 in Marketing and General Manager positions before being appointed Executive Vice President Growth & Innovation of Danone in 2017, then member of the Danone Executive Committee in 2018. Véronique led growth and business Danone’s innovation in e-commerce, leading to a doubling of sales from 2017 to 2020, and oversaw a 40% increase in innovation-driven initiatives. Véronique became Managing Director of Specialized Nutrition in 2019, before being appointed International Managing Director in November 2020. Before Danone, Véronique worked in global health and beauty companies, including Proctor & Gamble, in management positions marketing.

Shane Grant

Shane Grant was previously Executive Vice President and CEO of Danone North America. Prior to joining Danone, Shane spent almost 20 years with The Coca-Cola Company, where he held various leadership positions in marketing, sales and general management including SVP Glacéau and President of Coca-Cola. Cola Canada. Shane was appointed President of Coca-Cola North America’s Still Beverages business unit in January 2019, before joining Danone in May 2020.

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About Danone (www.danone.com)

Danone is a leading multi-local agri-food company leveraging health-focused and fast growing categories across 3 sectors: Essential and Plant-Based Dairy, Water, and Specialty Nutrition. With his’ One Planet. One Health framework for action, which considers the health of people and the planet as intimately linked, Danone aims to inspire healthier and more sustainable food and drink practices. To accelerate this food revolution and create superior, sustainable and profitable value for all of its stakeholders, Danone has defined nine 2030 Goals and paved the way as the first listed company to adopt the status of Company with Mission in France. Concerned with bringing health through food to as many people as possible, and the corresponding social, societal and environmental objectives set out in its bylaws, Danone is committed to acting in an efficient, responsible and inclusive manner, while respecting Sustainable Development. United Nations Goals (SDGs). By 2025, Danone aims to become one of the first multinationals to obtain B Corp ™ certification. With more than 100,000 employees and products sold in more than 120 markets, Danone generated sales of 23.6 billion euros in 2020. Danone’s portfolio includes leading international brands (Actimel, Activia, Alpro, Aptamil, Danette, Danio, Danonino, evian, Nutricia, Nutrilon, Volvic, among others) as well as strong local and regional brands (notably AQUA, Blédina, Bonafont, Cow & Gate, Horizon Organic, Mizone, Oikos, Prostokvashino, Silk, Vega). Listed on Euronext Paris and present on the OTCQX market via an ADR (American Depositary Receipt) program, Danone is one of the main sustainability indices including those managed by Vigeo Eiris and Sustainalytics, as well as the Ethibel Sustainability index, the MSCI ESG Index, the FTSE4Good Index Series, the Bloomberg Gender Equality Index and the Access to Nutrition Index.