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Danone Confirms Strategic Priorities and Reshuffles Management Team

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Danone Confirms Strategic Priorities and Reshuffles Management Team

Danone Confirms Strategic Priorities and Reshuffles Management Team
December 15
14:53 2014

The board of Danone has confirmed its 2014 targets including organic growth of over 4.5% and trading operating margin down less than 20 basis points like-for-like. Free cash-flow will be between €1.3 billion and €1.4 billion.

Emmanuel Faber, CEO of Danone, comments: “When I was appointed in October, I shared with our 100,000 employees that there was no greater inspiration than our mission: bringing health through food to as many people as possible. As 2014 draws to an end, I want to re-emphasize that message and reiterate that each of our core businesses – Fresh Dairy Products, Waters, Early Life Nutrition and Medical Nutrition – has a role to play in living up to our mission and achieving the profitable, sustainable growth that is an integral part of our strategy.”

Against this backdrop, Danone will continue to expand capacity rapidly and build development platforms in fast-growing regions, particularly Asia and Africa. Investments made for this purpose over the past two years have resulted in a higher use of debt than in the past, at a level that could imply a credit rating one notch lower, and that is appropriate for this current period of development given the company’s sound cash-flow outlook and debt structure.

Emmanuel Faber, CEO of Danone.

Emmanuel Faber, CEO of Danone.

To deploy this strategy and support the ‘Danone 2020’ ambition, Emmanuel Faber has decided to strengthen his management team, announcing a number of appointments that will take effect from January 1, 2015.

Gustavo Valle is appointed Executive Vice President Fresh Dairy Products. He is tasked with consolidating the division’s return to growth initiated by Thomas Kunz. After successfully leading the development of Danone’s Dairy business in Brazil and in the United States, Gustavo Valle was serving as Executive Vice President Europe.

Pierre-André Térisse is appointed Executive Vice President of the newly created Africa division. Over the past two years, Danone has consolidated existing positions and entered new markets on this continent, generating revenues of €1.2 billion. The company has set up this new multi-business structure to accelerate expansion in this strategic region. Since 2008, Pierre-André Térisse has served as the company’s CFO.

Cécile Cabanis is appointed to replace Pierre-André Térisse as CFO effective February 20, 2015. She joined Danone in 2004, and has served in a range of key positions in finance, including Corporate Finance Director, then head of Business Development. Since 2010, she has been Vice President Finance for the Fresh Dairy Products division.

DanoneTo ensure optimum deployment of the company’s new governance structure, marked by the recent separation of its Chairman and CEO functions, the board approved that Laurent Sacchi will fully focus on his mission as Executive Vice President Chairman’s Office and Company Secretary of the Board, as liaison between the Chairman and the CEO on major business topics for the company. He will also represent the company in interaction with external bodies with which Danone wants to strengthen its relations and dialog.

Bertrand Austruy is appointed General Secretary, a new function combining legal affairs, regulatory matters, compliance and food safety, as well as communications and public affairs. He joined Danone in 2001 and previously served as General Counsel, Vice President Product Compliance and Food Safety.

Gustavo Valle, Cécile Cabanis and Bertrand Austruy will join the company’s Executive Committee.

Emmanuel Faber adds: “The team we have appointed will focus on our short-term priorities and will take Danone to a new stage in its growth. This new development reflects the medium-term goals set under our Danone 2020 roadmap.”

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