French cheese maker Fromageries Bel has announced that CEO Gerard Boivin will stand down at the company’s AGM in May as the group’s board looks to tighten corporate governance practices.
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The board of directors, which is controlled by the Bel and Fievet families, has indicated its willingness to put in place a number of measures to improve the company’s standard of corporate governance.
In particular, the company intends to separate the functions of the board – which will determine the group’s general direction – and its operational management, with the appointment of a non-executive chairman and a general director.
Antoine Fievet is likely to fill the role of non-executive chairman. Fievet is currently chairman of the board of directors of Ubibel, the holding company that controls Bel.
Bel owns a number of household brands, including The Laughing Cow, Leerdammer and Babybel.
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By GlobalDataIn 2007, Bel bought cheese brand Boursin from Unilever in a EUR400m (US$511.6m) deal.
