Danone aims to achieve growth targets with restructuring

20-Oct-2020 - France

The French food company Danone wants to make itself fit for growth in the midst of the Corona pandemic. To this end, the group intends to divest parts of its business and realign its management. With these steps, the company wants to quickly get back on track towards its medium-term goals, the company announced on Monday in Paris at the presentation of quarterly figures.

n the third quarter, Danone felt the effects of the Corona pandemic. Sales fell by 9.3 percent to around 5.8 billion euros. On a like-for-like basis, revenues fell by 2.5 percent. Analysts had expected slightly higher sales.

One of Danone's medium-term goals, which it is now increasingly focusing on again, is to achieve comparable sales growth of 3 to 5 percent. By reviewing all parts of the company and possible sales, Danone intends to align its structure to this goal. In addition, management is now to be positioned more in regions than in product groups.

In addition, the position of Chief Financial Officer will be newly filled. After 16 years, Cecile Cabanis plans to leave Danone in February.

Danone manager Jürgen Esser will follow her into the position, she was told further on./stk/mis/fba (dpa)

Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.

https://www.yumda.com/en/news/1168297/danone-aims-to-achieve-growth-targets-with-restructuring.html