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Danone CEO Faber to also become chairman, replacing Riboud

PARIS, Oct 18 (Reuters) - French food group Danone said chief executive Emmanuel Faber would also take on the role of chairman, replacing Franck Riboud who is stepping down from that position.

Antoine Riboud founded Danone in 1972, and his son Franck succeeded his late father at the helm of Danone in 1996.

Franck Riboud is credited with turning Danone towards the health sector with a portfolio ranging from baby food to water, dairy and medical nutrition, having over the years ditched the beer, biscuit and glass-packaging businesses.

The move will take effect at the start of December, with Riboud staying on as honorary chairman at Danone. (Reporting by Sudip Kar-Gupta; Editing by Leigh Thomas)