June 26, 2019 / 3:52 PM / a month ago

French sugar maker Tereos says majority of board supports strategy

FILE PHOTO: The Tereos logo is displayed at a sugar beet processing plant in Origny-Sainte-Benoite, France, March 20, 2019. REUTERS/Benoit Tessier

PARIS (Reuters) - A majority of members of Tereos’ renewed supervisory board support the existing company strategy, the French sugar maker said on Wednesday after being challenged by cooperative members concerned by a plunge in profit.

“The regional delegates elected their supervisory board, the majority of whose members, 17 out of 24, support the strategy decided by the previous board and implemented by management,” it said in a statement.

The cooperative held a general meeting in northern France on Wednesday.

Reporting by Sybille de La Hamaide, editing by Gus Trompiz

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