Danone Targeted In Fresh Activist Investor Assault

Paris, (UrduPoint / Pakistan Point News - 11th Feb, 2021 ) :A second activist investment fund said Thursday that it had built up a sizable stake in French dairy and water giant Danone, looking to revamp management and fire up a share price hammered since the onslaught of the Covid-19 pandemic.

The move by the American fund Artisan Partners comes just a few weeks after another hedge fund, London-based Bluebell Capital, revealed it had acquired shares in hopes of provoking shareholders to demand a strategy review from Danone's boss Emmanuel Faber.

Artisan in particular wants Faber to split his dual roles of both board president and chief executive, saying it would ensure accountability as the company plots a post-Covid recovery strategy.

"Change is urgently needed to avoid permanent damage to the group's iconic brands and market position," Artisan wrote in a letter to Danone's board.