Faced with attacks from activist shareholders designed to reverse much of Danone’s strong promotion of environmental action and human rights, the IUF, whose members represent a majority of Danone’s workforce, has challenged Danone’s Board in an open letter in English and French
*Three major investors are leading the attack on the grounds that Danone is overly invested in issues of environmental impact and human rights for its workforce
*In the wake of recent poor economic performance, in large part linked to the impact of the COVID-19 pandemic on vulnerable parts of Danone’s business, investors are demanding profits over all other environmental and social commitments
As IUF General Secretary Sue Longley wrote to the Danone Board: “Danone’s model is far superior and sustainable than short-term financial engineering models, too often promoted by so-called activist investors. Danone’s model is a model that best serves the interests of the thousands of workers we represent.”
