Less hot air
OPINION: Farmers won't get any credit for this from the daily media, so Milking It is giving the bouquets where they’re due.
French dairy giant Danone shareholder Bluebell Capital Partners criticised the company’s “disappointing” stock price and called for the board to start searching for a new CEO to replace its current chairman and chief executive, Emmanuel Faber.
It claims since Faber took over in 2014, Danone has delivered total shareholder returns of 21% compared with 56% for the Stoxx Europe 600 Food & Beverage, 97% for Nestlé and 101% for Unilever.
Sounds familiar? Fonterra was in a similar position three years ago, with depressed unit prices and poor returns from investments.
It took a change in Fonterra’s leadership to steady the ship. Could Danone be heading the same way?
