Danone SA (BN.FR) said Wednesday that its Chief Executive Office Emmanuel Faber will also serve as company chairman as of Dec. 1.
The company's board of directors unanimously voted to combine the functions, Danone said. As chairman, Mr. Faber succeeds Franck Riboud, who becomes honorary chairman.
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Mr. Riboud said the change is a result of a planned leadership transition that he initiated three years ago.
"Combining the chairman and CEO roles will solidify this momentum, creating a direct bridge between the board and management that will enable the company to continue to execute on its strategy," he said.
Danone has announced structural changes to its executive committee, which will include three business and two functional leaders.
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(END) Dow Jones Newswires
October 18, 2017 12:42 ET (16:42 GMT)