Activist Investor Bluebell Pushes for Removal of Danone CEO (2)

Activist investor Bluebell Capital Partners urged Danone to replace Chief Executive Officer Emmanuel Faber as the world’s largest yogurt maker struggles to revive dairy sales and lags behind peers.

Faber failed to reach most of the goals he set out in 2017, and Danone’s $10 billion acquisition of milk-substitute maker WhiteWave has destroyed value, the firm said in a letter seen by Bloomberg News. Danone said it’s open to “constructive dialogue” with all shareholders and that its leadership team is focusing on creating value. The stock rose 2.1%.

The owner of Evian bottled water should also split the CEO and ...