Danone to Undergo Strategic Changes

The French food conglomerate said Monday it would name departing finance chief - Cecile Cabanis non-executive Chairman of the board, and appoint three new independent board members in an attempt to improve its management.

Danone said it was setting up a strategy committee to monitor the progress of its global plan to adapt its business to the coronavirus crisis - a valid move, encouraging its new idea of "a phase of active dialogue with shareholders”. 

The strategic change follows the company’s last month’s comment on plans to cut 2,000 jobs, trim product ranges and reorganize global business to become more flexible, given the negative effects of COVID-19.

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