Proxy Report - 26/04/2018
On October, 18th 2017, Emmanuel Faber, CEO since 2014, became Chairman and CEO. As a counterpower, the company propose to elect Michel Landel as a director in order to entrust him the Lead Independent Director function.
Regarding the 2017 remunerations granted and the 2018 remuneration policy, we regret the company's disclosure on some items. However, the LTIO performance conditions do not allow vesting in case of underperformance and we comment the company on that matter.
Finally, one of the annual bonus criteria is Danone's commitment towards climate change. We note that Danone is now a signatory of the Science Based Targets Initiative; we commend the company for its commitments as being a signatory of the SBTI is one of the engagement priorities of Proxinvest and Phistrust (http://www.proxinvest.fr/?p=4951 ; https://www.phitrust.com/en/phitrust-encourages-cac-40-companies-join-science-base-targets-initiative/).
Danone is engaged in activities in the global food and beverages industry. Co. operates in four markets: Fresh Dairy Products (Co. produces and sells yogurts, fermented dairy products and other fresh dairy products); Waters (Co. produces and sells natural waters as well as flavored and vitamin-enriched waters products); Early Life Nutrition (Co. produces baby formula, milk-and fruit-based desserts, cereals, small pots of baby food and ready-made baby food); and Medical Nutrition (Co. develops adult and pediatric clinical nutrition products to be taken orally, or through a catheter in the event of malnutrition related to illness or other causes).
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