© Reuters. FILE PHOTO: Company logos can be seen on products on display prior to the presentation of the 2019 annual results of French food company Danone in Paris
PARIS (Reuters) – U.S. investment firm Artisan Partners (NYSE :), which is putting pressure on French company Danone to shake its management over criticism of poor returns, will meet with several board members next week, a pertinent source said On Sunday.
The source spoke after French newspaper Le Journal du Dimanche said Artisan Partners would meet with Danone's leading independent board member Gilles Schnepp, independent executive board member Michel Landel and possibly several other Danone board members as early as Tuesday afternoon.
Danone, the world's largest yogurt group, which reported its 2020 results on Friday, February 19, could not be reached immediately for comment.
Earlier this week, Artisan Partners, which said it had built over 3% of Danone's stake, making it the third largest shareholder, criticized the company's strategy and price performance in a published letter calling on Danone to take on the roles of Danone share managing director and chairman.
The move follows similar calls from activist investor Bluebell, who did not announce its stake but last month called on Danone Chairman and CEO Emmanuel Faber to resign.
(This story has been revised to correct typing errors in the heading.)
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