Dutch nutrition group Royal Numico, which looks set to be sold to Groupe Danone, has revealed details of how its management team will look if the sale goes through.
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Christian Neu, a Danone executive of 21 years, will become CEO of Numico. Fellow Danone executive François Caquelin will handle all “finance-related activities” at the Dutch firm, Numico said late on Friday (5 October).
Flemming Morgan, meanwhile, will take on board responsibility for Numico’s clinical nutrition division, reporting to Bernard Hours, co-chief operating officer responsible for Danone’s four operational business lines.
The three executives will take up the roles when, as expected, Danone declares its public offer for the remaining shares in Numico unconditional. Numico shareholders have until 31 October to accept Danone’s EUR55-a-share offer.
Danone launched its EUR12.3bn (US$17.3bn) takeover bid in July in a move, according to Danone chief executive Frank Riboud, to create the “most powerful” health food company in the world.
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By GlobalDataNumico’s then CEO Jan Bennink has since decided to resign. Two other Numico executives will also leave the group should the Danone takeover go through.
Chris Britton, president of Numico’s baby food business, and Niraj Mehra, the company’s executive board member responsible of operations, have decided to resign to “pursue other career opportunities”, Numico said.
