Danone Management

Management criteria checks 2/4

Danone's CEO is Antoine de Saint-Affrique, appointed in Sep 2021, has a tenure of 3.17 years. total yearly compensation is €6.35M, comprised of 22% salary and 78% bonuses, including company stock and options. directly owns 0.001% of the company’s shares, worth €391.96K. The average tenure of the management team and the board of directors is 4.5 years and 2.6 years respectively.

Key information

Antoine de Saint-Affrique

Chief executive officer

€6.4m

Total compensation

CEO salary percentage	22.0%
CEO tenure	3.2yrs
CEO ownership	0.0009%
Management average tenure	4.5yrs
Board average tenure	2.6yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Antoine de Saint-Affrique's remuneration changed compared to Danone's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2024	n/a	n/a	€1b
Mar 31 2024	n/a	n/a	€938m
Dec 31 2023	€6m	€1m	€873m
Sep 30 2023	n/a	n/a	€1b
Jun 30 2023	n/a	n/a	€1b
Mar 31 2023	n/a	n/a	€1b
Dec 31 2022	€6m	€1m	€946m
Sep 30 2022	n/a	n/a	€1b
Jun 30 2022	n/a	n/a	€2b
Mar 31 2022	n/a	n/a	€2b
Dec 31 2021	€3m	€408k	€2b

Compensation vs Market: Antoine's total compensation ($USD6.82M) is above average for companies of similar size in the German market ($USD5.24M).

Compensation vs Earnings: Antoine's compensation has been consistent with company performance over the past year.

CEO

Antoine de Saint-Affrique (60 yo)

3.2yrs

Tenure

€6,353,410

Compensation

Mr. Antoine Bernard de Saint-Affrique has been Independent Non-Executive Director of Burberry Group plc since January 01, 2021. Mr. de Saint-Affrique serves as Chief Executive Officer at Danone S.A. since...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Antoine de Saint-Affrique	CEO & Non-Independent Director	3.2yrs	€6.35m	0.00093% € 392.0k
Juergen Esser	Chief Financial	3.8yrs	no data	no data
Vikram Agarwal	COO, Deputy CEO & End-to-end Design To Delivery Coordinator	2.8yrs	no data	no data
Mathilde Rodie	Head of IR & Financial Communication	no data	no data	no data
Veronique Penchienati-Bosetta	Group Deputy CEO	no data	€2.90m	no data
Isabelle Esser	Chief HR	less than a year	no data	no data
Henri Bruxelles	Chief Sustainability and Strategic Business Development Officer	7.1yrs	no data	no data
Shane Grant	Group Deputy CEO	3.2yrs	€316.30k	no data
Floris Wesseling	Senior VP of Essential Dairy & Plant Based Europe and Zone Study Leader Europe	5.3yrs	no data	no data
Bruno Chevot	President of Greater China	5.8yrs	no data	no data
Silvia Lucia Kreimerman	SVP of Esntl Dairy & Plant Based LATAM and Zone Study Leader LATAM	7.1yrs	no data	no data
Jean-Marc Magnaudet	SVP of SN Asia	5.8yrs	no data	no data

4.5yrs

Average Tenure

57yo

Average Age

Experienced Management: BSN's management team is considered experienced (4.5 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Antoine de Saint-Affrique	CEO & Non-Independent Director	2.6yrs	€6.35m	0.00093% € 392.0k
Lise Kingo	Independent Director	1.9yrs	€106.00k	0.00031% € 130.7k
Gilles Schnepp	Independent Chairman of the Board	3.9yrs	€650.00k	0.00078% € 328.7k
Gilbert Ghostine	Independent Director	2.1yrs	€110.00k	0.00047% € 198.1k
Patrice Jean Louvet	Independent Director	2.6yrs	€134.00k	0.00031% € 130.7k
Sanjiv Mehta	Independent Director	1.3yrs	€68.50k	0.00016% € 67.4k
Geraldine J. M. Picaud	Independent Director	2.6yrs	€126.00k	0.00031% € 130.7k
Valerie Marie Chapoulaud-Floquet	Lead Independent Director	2.9yrs	€157.00k	0.00031% € 130.7k
Bettina Theissig	Employees Representative Director	10.2yrs	no data	0% € 0
Frédéric Boutebba	Employees Representative Director	8.4yrs	no data	0% € 0
Susan Roberts	Independent Director	2.6yrs	€130.00k	0.00016% € 67.4k

2.6yrs

Average Tenure

62yo

Average Age

Experienced Board: BSN's board of directors are not considered experienced ( 2.6 years average tenure), which suggests a new board.

Danone Management

Management criteria checks 2/4

Key information

Recent management updates

Danone S.A., Annual General Meeting, Apr 25, 2024

High number of new directors

Danone S.A. Announces Executive Changes

Danone S.A. Announces Board and Committee Changes

Insufficient new directors

Danone S.A. Announces Resignation of Emmanuel Faber as CEO

Recent updates

First half 2024 earnings released: EPS: €1.89 (vs €1.70 in 1H 2023)

Danone S.A. Provides Earnings Guidance for the Year 2024

Danone S.A. to Report Q2, 2024 Results on Jul 31, 2024

Danone S.A. (ENXTPA:BN) acquired Nutritional Medicinals, LLC from SPC Management Co. Inc.

Danone Approves Dividend for the Year 2023, Payable on May 7, 2024

Danone S.A. Confirms Sales Guidance for the Year 2024

Dividend increased to €2.10

Danone S.A., Annual General Meeting, Apr 25, 2024

Full year 2023 earnings released: EPS: €1.36 (vs €1.48 in FY 2022)

Danone Reportedly Plans to Sell Russian Operations to Chechnya-Linked Businessman

Platinum Equity, LLC signed a definitive agreement to acquire an unknown majority stake Horizon Organic and Wallaby from Danone S.A. (ENXTPA:BN).

Danone S.A. to Report Fiscal Year 2023 Results on Feb 21, 2024

Danone S.A. Revises Sales Guidance for the Year 2023

Danone S.A. Revises Sales Guidance for the Year 2023

Now 20% undervalued after recent price drop

First half 2023 earnings released: EPS: €1.70 (vs €1.14 in 1H 2022)

Danone S.A. Provides Sales Guidance for the Year 2023

Danone S.A. to Report First Half, 2023 Results on Jul 26, 2023

Upcoming dividend of €2.00 per share at 3.3% yield

Full year 2022 earnings released: EPS: €1.48 (vs €2.94 in FY 2021)

High number of new directors

Danone S.A. to Report Fiscal Year 2022 Results on Feb 22, 2023

Danone S.A. Provides Earnings Guidance for the Year 2022

Danone S.A. Announces Executive Changes

Danone S.A. to Report First Half, 2022 Results on Jul 27, 2022

Upcoming dividend of €1.94 per share

Danone S.A. Announces Board and Committee Changes

Danone Provides Sales Guidance for the Year 2022

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Danone S.A. Proposes Dividend for the Year 2021, Payable on May 12, 2022

Danone S.A. to Report Fiscal Year 2021 Results on Feb 23, 2022

Insufficient new directors

Chief Human Resources Officer Bertrand Austruy has left the company

Danone S.A. (ENXTPA:BN) announces an Equity Buyback for 68,662,960 shares, representing 10% for €5,836.35 million, under the authorization approved on April 29, 2021.

First half 2021 earnings released: EPS €1.63 (vs €1.55 in 1H 2020)

Director has left the company

Upcoming dividend of €1.94 per share

Full year 2020 earnings released: EPS €2.99 (vs €2.95 in FY 2019)

Danone S.A. Announces Resignation of Emmanuel Faber as CEO

Chairman & CEO Emmanuel Faber has left the company

Lazard Ltd (NYSE:LAZ) acquired bottled water division in Argentina from Danone S.A.

Danone S.A. Proposes Changes in Roles and Responsibilities of Chairman and Other Appointments

Danone Reportedly Takes Step to Sell Chinese Asset Amid Shareholder Pressure

Danone S.A. (ENXTPA:BN) completed the acquisition of Follow Your Heart, Inc from founders.

Full year 2020 earnings released: EPS €2.99 (vs €2.95 in FY 2019)

Revenue misses expectations

New 90-day high: €56.88

Danone S.A. (ENXTPA:BN) entered into a share purchase agreement to acquire Follow Your Heart, Inc.

New 90-day high: €56.16

Danone S.A., Annual General Meeting, Apr 29, 2021

Danone Announced Management Changes

Danone S.A., Annual General Meeting, Apr 29, 2021

Danone S.A. to Report Fiscal Year 2020 Results on Feb 19, 2021

Danone S.A. Announces Executive Changes

New 90-day low: €53.50

Danone SA (ENXTPA:BN) entered into a memorandum of understanding to acquire 49% stake in Yashili New Zealand Dairy Co., Limited from Yashili International Holdings Ltd (SEHK:1230) for approximately NZD 320 million.

New 90-day low - €54.56

New 90-day low - €57.72

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age