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Danone CEO Faber to also become chairman, replacing Riboud

October 18, 2017 at 12:18 pm EDT

PARIS (Reuters) - French food group Danone said chief executive Emmanuel Faber would also take on the role of chairman, replacing Franck Riboud who is stepping down from that position.

Antoine Riboud founded Danone in 1972, and his son Franck succeeded his late father at the helm of Danone in 1996.

Franck Riboud is credited with turning Danone towards the health sector with a portfolio ranging from baby food to water, dairy and medical nutrition, having over the years ditched the beer, biscuit and glass-packaging businesses.

The move will take effect at the start of December, with Riboud staying on as honorary chairman at Danone.

(Reporting by Sudip Kar-Gupta; Editing by Leigh Thomas)

Franck Riboud

Franck Riboud is a French businessperson who has been at the head of 7 different companies and occupies the position of Chairman for Fondation Initiative Autisme and Chairman of Rolex France SASU. Mr. Riboud is also on the board of 7 other companies. Franck Riboud previously held the position of Chairman for Livelihoods Fund For Familiy Farming SAS, Member of Le Conseil National du Développement Durable, Sales Director at Heudebert SA, Chairman & Chief Executive Officer of Danone SpA, Chairman at Danone Communities SICAV and Chief Executive Officer at Eaux Minérales Evian SA. Mr. Riboud received an undergraduate degree from École Polytechnique Fédérale de Lausanne.

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