Early retirement for Sanofi chief exec Olivier Brandicourt
In a surprise announcement, French pharma major Sanofi (Euronext: SAN) has revealed that chief executive Olivier Brandicourt (pictured above) will retire in September, to be replaced by Novartis’ (NOVN: VX) current pharma chief, Paul Hudson.
Dr Brandicourt is stepping down earlier than expected, two years before reaching the company’s compulsory retirement age of 65.
Since his appointment four years ago, in February 2015, he has overseen a more-than-15% decline in the company’s share price. Sanofi’s stock rose 3% following news that he would be replaced.
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