By Olivia Bugault 
 

Danone SA said Monday that it is changing the composition of its board of directors in order to strengthen its governance.

The French food company said Cecile Cabanis--who has been a member of the board since 2018--is named vice-chairwoman of the board.

Danone will also propose three new independent members for election to the board at its shareholder meeting on April 29, it said. Gilles Schnepp, who has been appointed with immediate effect to replace Gregg Engles, will be proposed for confirmation, while Ariane Gorin and Susan Roberts will be presented for election during the AGM, Danone said.

The company said it has decided to create a new strategy and transformation board committee to evaluate the progress of Danone's adaptation plans, it said. "It will be notably in charge of monitoring progress on portfolio review and execution of the growth and efficiency plan," Danone said.

 

Write to Olivia Bugault at olivia.bugault@wsj.com

 

(END) Dow Jones Newswires

December 14, 2020 02:11 ET (07:11 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.