Can Anglo-Saxon activist investors whip Danone into shape?

EMMANUEL FABER used to be seen as the spiritual son of Franck Riboud, honorary chairman and former boss of Danone, whose father Antoine co-founded the French yogurt-maker. Mr Riboud handpicked Mr Faber as his successor and loyally backed his transformation of Danone into France’s first , a corporate form with a defined social purpose.In recent months the relationship has soured. According to the French press, Mr Riboud thinks Mr Faber is more interested in saving the planet than saving his firm. Danone’s share price fell by 27% in 2020 while those of rivals such as Nestlé and Unilever made gains amid pandemic larder-stocking. Its full-year results, due on February 19th, are unlikely to inspire investors’ confidence.