Daily Management Review

Novartis Executive Named As Sanofi’s C.E.O


06/14/2019


Sanofi’s months-long search for new chief executive meets a successful end.



Sanofi is a French giant in the pharma industry which has announced Paul Hudson as its new C.E.O who is set to be Olivier Brandicourt’s successor post his retirement in September.
 
Hudson is a current “top executive” at Novartis, which is a Swiss rival of Sanofi, is going to take up his new responsibilities from September 1, 2019, confirmed Sanofi. A source from Sanofi had informed:
“Hudson has been chosen because of his reputation. He is known as a solid manager and has digital expertise relating to pharmaceuticals”.
 
Hudson if 51 years old and has been holding the chief executive’s chair of “Novartis Pharmaceuticals unit” from 2016, while his prior experiences include positions at “Schering Plough and AstraZeneca”. Moreover, as mentioned earlier, Hudson also holds a member’s position at the “Novartis executive committee”.
 
On the other hand, Marie-France Tschudin has been named to head the drug business at Novartis following Hudson’s departure. The search for a new C.E.O at Sanofi began some months ago.
 
Brandicourt, the current C.E.O of Sanofi joined the company in 2015 for helping it in reviving “the fortunes of France’s biggest drugmaker”. Since then, Brandicourt has been actively involved in “reshaping the business”. According to Reuters:
“Under his tenure, the company swapped its animal health unit with Boehringer Ingelheim in exchange for the German company’s consumer healthcare operations in a $20 billion (£15.8 billion) deal. It has also sold its European generics arm for 1.9 billion euros (£1.7 billion) to private equity firm Advent International.
“New launches such as eczema treatment Dupixent, cost-cutting measures and new priorities in research and development have also enabled Sanofi to return to profit in the second half of last year after a series of disappointing quarters”.
 
However, the teams of Brandicourt faced two major failures as “two strategic acquisitions” slipped through their hands, whereby Sanofi lost the chance of acquiring “California-based cancer specialist Medivation” which was bought over by Pfizer in the year of 2016 and the “Swiss biotech company Actelion” bought over by “Johnson & Johnson in 2017”.
 
 
References:
reuters.com







Science & Technology

Study: Machine learning is five times more harmful for the environment than a car

Would Singapore Be The First One To Bring Lab Grown Shrimps To The Global Market?

Apple Patents A ‘Foldable Screen’ For Creating Foldable iPhones

Research Shows Air Pollution Causing Birth Defects

Microsoft tells about operating system of the future

Study: Third of US kids wake up at night to check their smartphones

Deepfake AI Technology Used By Researchers To Bring Mona Lisa ‘To Life'

China is developing technology to capture greenhouse gases

IEA: The growth of renewable energy is slowing

Google introduces new smartphone and beta Android Q

World Politics

World & Politics

Iranian Foreign Minister urges other countries to abandon the dollar

The EC recommends starting penalty procedure against Italy

European Breweries To Up Their Brewing Innovation Amid Green Legislations

‘Frequent’ Shootings Causes China To Issue Travel Advisory Against US To Its Citizens

Facebook’s appeal to stop ECJ data case rejected in Irish Supreme Court

Trump: Japan to buy 105 F-35 fighters from the USA

Theresa May to resign on June 7

The Earth Is ‘Not On Track’ To Tackle Global Warming: The U.N. Secretary General