WHITE PLAINS, N.Y. and
BROOMFIELD, Colo., April 25, 2017 /PRNewswire-USNewswire/ --
DanoneWave, the newly combined entity of WhiteWave Foods and
Danone's dairy business, has been incorporated as a public benefit
corporation in the U.S. With more than $6
billion in revenue and 6,000 employees, DanoneWave will be
the largest public benefit corporation, which is a corporate
structure intended to operate in a responsible and sustainable
manner. A public benefit corporation is managed in a way that
balances shareholders' financial interests and the benefits it
brings to people, the planet and broader society. Moreover, for
DanoneWave, an advisory committee has been established to provide
guidance and insights on furthering the mission of the company as a
public benefit corporation.
Mission and commitments
DanoneWave's mission is to
nourish people, communities and the world through its diverse
portfolio of healthful dairy- and plant-based products, coffee
creamers and beverages. It will accelerate Danone's 2020
profitable growth journey by offering a wider choice of
better-for-you and great tasting food and beverages for any moment
of the day. DanoneWave enters the market as a top 15 food and
beverage company in the U.S. holding the number one dairy market
position, excluding cheese.
"From our beginning we aspire to create economic,
environmental and social value in our everyday decisions about how
we operate DanoneWave. We'll do this in the interest of our
shareholders, employees, consumers, customers, and suppliers, and
improve the impact of our activities on the environment," said
Lorna Davis, CEO of DanoneWave and
Danone's Chief Manifesto Catalyst. "In 10 years it is my
hope that it will be inconceivable that business will be done in
any other way and all businesses will work to make the world a
better place by making environmental and social responsibility an
integral part of, and contributor to, business success.
Real progress goes from the 'unthinkable to the impossible
to the inevitable,' and for many today we are at the 'impossible'
stage, but it will soon be 'inevitable.'"
Specific goals, as stated in the articles of incorporation for
DanoneWave are:
(i) to encourage dietary practices
in line with Danone's longstanding mission to "bring health through
food to as many people as possible," and,
(ii) to promote a model of
sustainable growth with a view to creating economic and social
value in the interest of key stakeholders such as employees,
customers and suppliers and improving the impact of its activities
on the environment.
Advisory Committee
To add to the new company's
governance and to foster diversity of ideas and benefit from
experienced leaders in health and sustainability, DanoneWave has
formed an advisory committee, comprised of external thought leaders
and chaired by Rose Marcario, CEO of
Patagonia. Building on the company's history of environmental
stewardship, Patagonia was established as the first benefit
corporation in California in
2012.
"We want to share how to transform a conventional business
model to ensure that every decision we make as business leaders
reinforces our commitment not only to generating profit for our
shareholders, but equally so to the environment, our workers, our
customers and our communities. And in the end, profits can and will
still be made, perhaps at greater levels than ever before, as in
Patagonia's case," said Marcario.
Other advisory committee members, each appointed to a three-year
term, are: Michelle Goolsby, venture
partner of Greenmont Capital Partners and board chair of Vitamin
Angels; Mac Macartney, author,
speaker and change-maker; Simin
Meydani, D.V.M., Ph. D., Vice Provost for Research,
Tufts University; Emeran Mayer, MD, PhD, David Geffen School of Medicine at UCLA; and Marcello
Palazzi of B-Lab Europe.
Among the responsibilities of the advisory committee are:
analyzing potential evolutions for the businesses of DanoneWave;
proposing strategies for DanoneWave in line with its purpose;
reviewing the application of the ethical rules of Danone by
DanoneWave, in particular in relation to employees, partners,
suppliers, customers, and consumers; and reviewing DanoneWave's
policies and impact regarding nutrition and public health,
environmental issues and inclusion and diversity including gender
equality.
Danone, the parent company of DanoneWave, will also continue
working with B Lab to design a roadmap for certification and
intends to pursue B Corp certification for DanoneWave by 2020.
"The creation of DanoneWave as a benefit corporation on its
first day demonstrates that size is not a barrier to corporate
governance that accounts for the interests of all stakeholders.
This is an important next step for Danone, which has been a strong
partner in our efforts to create a path for companies with complex,
international businesses to develop deep legal and operational
frameworks to create both economic and social value," said
Bart Houlahan, co-founder of B Lab.
"We look forward to continued collaboration with Danone and now
DanoneWave to inspire other businesses to accelerate this
movement's growth into the mainstream."
About DanoneWave
DanoneWave is a business unit of
Danone and operates from headquarter offices in White Plains, NY, Broomfield, CO, Boucherville, Quebec, and Mississauga, Ontario. DanoneWave was formed
following the acquisition of WhiteWave Foods by Danone, bringing
together two purpose-driven, health-focused and high-growth
companies. DanoneWave's ambition is to produce healthful dairy,
plant-based products and coffee creamers and beverages, create
economic and social value and nurture natural ecosystems through
sustainable agriculture. Its portfolio of brands include: Activia,
DanActive, Danimals, Dannon, Danonino, Danone, Earthbound Farm,
Horizon Organic premium dairy products, International Delight
coffee creamers and iced coffee, Light & Fit, Oikos Greek
yogurt, Silk plant-based foods and beverages, So Delicious Dairy
Free, Vega and Wallaby Organic.
For more information about DanoneWave, please visit Danone.com.
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SOURCE DanoneWave