Jehanne Leroy
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Etude de l'AG du 27/04/2017

ITEM 9: Danone is currently in the process of acquiring Whitewave Foods Company, global leader in organic foods, plant-based milks and related products. Therefore, the election of Mr Engles, Chairman and CEO of Whitewave is proposed. Although his expertise would be welcome, the board does not have a majority of independent members. Hence, we do not support his election.

ITEM 13: Although the company indicates that in 2017, the enhanced chairmanship of Mr Riboud will end, and, consequently, his remuneration will be severely revised, no amount is disclosed. Hence, we do not support it.

ITEM 14: The company indicates that in 2017, pluri-annual remuneration (Group performance units) could be removed to simplify Mr Faber’s remuneration policy. The long-term remuneration (Group performance shares) could increase, but however, it should remain in line with our recommendations.


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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Jehanne Leroy

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