Danone Names Faber CEO as Riboud Separates Dual Roles

Danone split its chairman’s dual roles, appointing Emmanuel Faber to chief executive officer while Franck Riboud remains chairman amid declining profit at the world’s biggest yogurt maker.

The separation of the positions will help pave the way for “a smooth succession,” Paris-based Danone said yesterday in a statement. As part of the change, Danone expanded Riboud’s responsibilities as chairman and terminated Bernard Hours’ mandate as co-chief operating officer, a position he’s held jointly with Faber, 50, since 2007.