BN Danone

Etude de l'AG du 27/04/2017

Danone a lancé depuis juillet 2016 une opération afin d’acquérir Whitewave Foods Company, leader mondial du Bio, des laits et produits frais d’origine végétale. Il est ainsi proposé de nommer au conseil de Danone Greg Engles, Président Directeur Général de Whitewave. Bien que l'expertise de M. Engles soit la bienvenue au regard de l'acquisition de cette opération, le conseil ne comprendra pas, post-AG, une majorité de membres indépendants ; nous ne soutenons donc pas sa nomination.

Concernant les rémunérations de MM. Riboud et Faber, si celle de M. Riboud pour 2016 et 2017 reste bien trop généreuse (notons toutefois que la société annonce qu’en raison de la fin de la présidence renforcée, celle-ci va être sérieusement revue), celle de M. Faber pour 2016 est plutôt acceptable. Et la société a annoncé pour 2017 qu’elle envisageait de supprimer les GPU (rémunération pluri-annuelle), afin de simplifier la compréhension de la politique de rémunération. SI cela mènera probablement à une augmentation en valeur des GPS (rémunération long-terme), la part long-terme devrait toutefois rester en ligne avec nos recommandations.

13/04/2017
33 pages
FR

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Underlying

Food & Beverage - France

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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