Press release – Paris, December 14th, 2017
Danone’s Board of Directors proposes that Michel Landel be appointed as Lead Independent Director
Following the Board of Directors held today, Danone announces that it will request its shareholders to approve the appointment of Michel Landel as Board Member as from April 26, 2018, the date of its next Shareholders’ Meeting.
The Board of Directors also decided that following such appointment, Michel Landel would be appointed Lead Independent Director and Chairman of the Nomination and Remuneration Committee, replacing Jean Laurent who has decided not to stand for reelection at the expiration of his current term of office.
Michel Landel is currently CEO and Chairman of the Executive Committee of the global service leader Sodexo, which operates in 80 countries with 20 billion euros annual revenues and 425,000 employees worldwide, and is a member of the CAC40 and DJSI indices. He started his career with Chase Manhattan Bank and Groupe Poliet, before joining Sodexo more than 30 years ago. Mr Landel has held different positions in Sodexo, including positions in Africa and the US for more than 10 years, and has served as CEO and Chairman of the Executive Committee since 2005. He will step down at the next annual shareholders’ meeting of Sodexo on January 23, 2018 in order to take his retirement.
During his tenure as CEO, Michel Landel has transformed Sodexo as the world leader in Quality of Life services, pursuing its international development, expanding its service offering beyond catering, and positioning Sodexo as corporate responsibility leader. His contribution to the performance of the company makes him one of the most respected business leaders; he was recently cited by the Harvard Business Review as one of the top-50 best performing CEOs in 2017.
Michel Landel will bring to the Board his extensive experience and expertise in the international consumer business environment and in change management. As Lead Independent Director, he will oversee the efficient running of the company’s governance structure. The Board has also decided to expand the duties and responsibilities of the Lead Independent Director with regards to setting the Board agenda and the engagement with shareholders. This evolution of governance will solidify the momentum of the new development phase that Danone has entered and enable the company to continue to execute on its transformation journey.
About Michel Landel (Corporate-Executives)
Michel Landel was born on 7 November 1951 in Meknes, Morocco.
Michel Landel graduated in 1976 with an MBA from the European Business School. His degree included time spent studying in France, England and Germany.
He was raised in Meknès in northern Morocco for six years before his family returned to the Burgundy region of France, where he grew up.
After graduation in 1976, his first job was with Chase Manhattan Bank in Paris. He also worked for Chase Manhattan in the UK and in Africa. In 1980 Landel moved industry, from financial services to industrial construction, and worked for four years as the General Manager for the French company The Poliet Group.
In 1984 Michel Landel joined Sodexo. His first position was as Chief Operating Manager for Eastern Africa, Libya and Algeria. In 1986 he was promoted to President of Remote Site operations in Africa. In 1989 he moved to the United States and took up his new position as the President and Chief Executive Officer of Sodexho North American operations.
Under his leadership, Sodexo became the premier provider of food management services in North America, generating 38% of the Group’s consolidated revenues and employing more than 120,000 people.
In 2000 he was appointed Vice President of Sodexo’s Executive Committee. In 2003 he was named the Group’s Chief Operating Officer. In 2005 he became the Chief Executive Officer, and continues to hold that position today. He has also been a member of Sodexo’s Board of Directors since January 2009.
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About Danone (www.danone.com)
Dedicated to bringing health through food to as many people as possible, Danone is a leading global food company built on four business lines: Essential Dairy and Plant-Based Products, Early Life Nutrition, Waters and Medical Nutrition.
Through its mission and dual commitment to business success and social progress, the company aims to build a healthier future, thanks to better health, better lives and a better world, for all its stakeholders-its more than 100,000 employees, consumers, customers, suppliers, shareholders and all the communities with which it engages. With products being present in over 130 markets, Danone generated sales of approximately €22 billion in 2016. Danone’s brand portfolio includes both international brands (Activia, Actimel, Alpro, Danette, Danonino, Danio, evian, Volvic, Nutrilon/Aptamil, Nutricia) and local brands (Aqua, Blédina, Cow & Gate, Bonafont, Horizon Organic, Mizone, Oikos, Prostokvashino, Silk, Vega).
Listed on Euronext Paris and present on the OTCQX market via an ADR (American Depositary Receipt) program, Danone is a component stock of leading social responsibility indexes including the Dow Jones Sustainability Indexes, Vigeo, the Ethibel Sustainability Index, MSCI Global Sustainability, MSCI Global SRI Indexes and the FTSE4Good Index.
For more information, please contact :
Corporate Communications : +33 1 44 35 20 75
Investor Relations : +33 1 44 35 20 76
Danone : 17, Boulevard Haussmann, 75009 Paris, France 1
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