Ripe for change? Activist investors eye food, consumer goods

By Richa Naidu LONDON (Reuters) – In early 2021, investment management firm Artisan Partners sent an open letter to an incoming member of Danone’s board, saying it had built a stake of more than 3% in the French food giant. “On almost every measure, Danone’s performance has lagged,” Artisan said, and called for change. About a month later, Danone’s then-CEO and chairman, Emmanuel Faber, was ousted and its board overhauled in a high profile victory for shareholder activism. Today, Artisan, which manages about $146 billion, is Danone’s top shareholder with a 7% stake, according to LSEG data. Dav…

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