Danone: sets up new organisation
(CercleFinance.com) - Danone has announced the implementation of a new local organisation by zones, instead of a worldwide organisation by categories, as well as an enlargement of its executive committee to six new members to reflect new geographical areas.
The group aims to make savings of 1 billion euros by 2023, which will be partly reinvested to finance new growth opportunities. Exceptional costs relating to the new organisation are estimated at around 1.4 billion euros over 2021-2023.
Furthermore, in the medium term, it confirms its target for LFL sales growth of 3%-5%, and is now targeting an underlying operating margin of 15%-20%, with a new target of a margin of over 15% from 2022.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The group aims to make savings of 1 billion euros by 2023, which will be partly reinvested to finance new growth opportunities. Exceptional costs relating to the new organisation are estimated at around 1.4 billion euros over 2021-2023.
Furthermore, in the medium term, it confirms its target for LFL sales growth of 3%-5%, and is now targeting an underlying operating margin of 15%-20%, with a new target of a margin of over 15% from 2022.
Copyright (c) 2020 CercleFinance.com. All rights reserved.