Danone nutriceutical hits L'Oréal relationship

Published: 3-Dec-2007

Franck Riboud, president of food group Danone, has left the board of L'Oréal, citing a conflict of interest as the Danone group has now launched a range of milk-based products - so-called dermonutrition products - for the cosmetics market. L'Oréal said M Riboud's decision was motivated by the fact that his activities could expose "each of the two groups to a situation of conflict of interest". Danone has not made a statement.


Franck Riboud, president of food group Danone, has left the board of L'Oréal, citing a conflict of interest as the Danone group has now launched a range of milk-based products - so-called dermonutrition products - for the cosmetics market. L'Oréal said M Riboud's decision was motivated by the fact that his activities could expose "each of the two groups to a situation of conflict of interest". Danone has not made a statement.

Riboud has been replaced by Charles-Henri Filippi, president of the board of HSBC France. This decision is subject to shareholder approval at the April 2008 AGM.

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