Industry Movers: Danone, Laboratoire PYC & 4D Pharma
It’s all happening at Danone as the French dairy giant are now on the lookout for a new CEO as Emmanuel Faber agreed to step down from the role as well as that of Chairman.
The move has been prompted following pressure from investors, who have expressed unhappiness at the firm’s recent performance during the coronavirus crisis in which sales of yoghurt and bottled water declined.
Whilst the hunt for a new CEO remains ongoing, Faber will continue as chairman and CEO. Once his replacement has been found, Faber will focus on the role as non-executive Chairman.
“I am pleased we took the governance arrangements that will allow us to anticipate the next phase of development,” says Faber.
“I want to thank all our shareholders, my colleagues of the Board, our employees and social partners who contributed to making these decisions emerge. I am convinced they will make the execution of our plan and our mission much stronger.”
In another boardroom shuffle, Danone also announced the appointment of Gilles Schnepp and Cécile Cabanis as Vice-Chairman, and Jean-Michel Severino as the firms’ new Lead Independent Director and Chairman of the Governance Committee.
Meanwhile, another French-based supplement firm Laboratoire PYC has announced Caroline Guyon as the new head of the firm following the retirement of Roger Borne.
Previously the firm’s Business Unit Director, Guyonnow steps into the shoes of Borne, who joined the firm back in 2007.
“I’ve been working at Laboratoire PYC for many years, it’s a real team and it’ s a pleasure to work with them,” says Guyon of her recent appointment.
“It was essential for all of us that the new management maintains this PYC spirit, for all employees but also for all our customers and suppliers! This is one of the main reasons why I applied for the management of Laboratoire PYC.”
Finally, Live Biotherapeutics (LBPs) firm 4D Pharma, has announced the appointment of Paul Maier as Non-Executive Director of the Board.
“I am excited to join 4D pharma’s Board and support its goals to establish a larger global presence while working to bring its differentiated approach and pipeline of Live Biotherapeutics to patients in need,” says Maier.
“I look forward to working with 4D and offering my experiences in transactional and operational strategy as the company continues to grow, catalyzed by 4D’s upcoming NASDAQ listing.”
Maier was previously the Chief Financial Officer of Sequenom Inc., where he was responsible for raising over €303m ($360m) in equity and debt financings, expanding institutional sell side research analyst coverage, as well as overseeing and establishing internal financial infrastructure.