January 17, 2019 / 5:45 PM / 6 months ago

Pernod Ricard to reshuffle board after Elliot takes stake - report

PARIS, Jan 17 (Reuters) - ** French family-backed spirits group Pernod Ricard will make changes to its board in the coming weeks, with vice-chairman Pierre Pringuet among those that could take a step back, BFM Business reported on Thursday.

** Planned changes come after activist hedge fund Elliot said in December it had built a stake of just over 2.5 percent in Pernod Ricard, and called on it to improve profit margins and governance.

** Elliott deemed that the board was close to the family, BFM Business said.

** Elliot and Pernod managers met on Jan. 15 and agreed to continue discussions, a source close to the matter told Reuters earlier this week.

Source: here

— Note: Reuters has not verified this story and does not vouch for its accuracy (Reporting by Sarah White)

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