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Danone combines chairman, CEO roles; reshuffles senior management

Danone's board has unanimously voted to combine the functions of chairman and CEO.

CEO Emmanuel Faber has been appointed chairman, effective Dec. 1. Faber will succeed Franck Riboud as chairman, who will become honorary chairman of Danone and will continue to serve as a director of the company.

Danone also made changes to its executive committee structure, which will now consist of three business and two functional leaders under the leadership of the CEO.

Francisco Camacho will serve as executive vice president of essential dairy and plant-based business. Camacho was appointed executive vice president of waters division and growth and innovation officer in March.

Henri Bruxelles takes over as executive vice president of waters and Africa. Bruxelles most recently served as regional vice president of waters for Latin America.

Bridgette Heller, executive vice president of early life nutrition and advanced medical nutrition, will assume additional responsibility for Access and Danone communities and will become a co-leader of the company's protein program together with Cécile Cabanis.

Executive Vice President and CFO Cabanis will assume responsibility for cycles and procurement and nature sustainability in addition to her current responsibilities. Cabanis also will become CFO and executive vice president of information systems and information technology.

Bertrand Austruy will continue to serve as executive vice president of human resources and general secretary and will take over leadership of Danone business services.

The company also announced that Jean Laurent, lead independent director, will not stand for re-election after the expiration of his term in April 2018. Danone said it is in the final stages of identifying Laurent's successor.