Sanofi has an age limit of 65 for its CEO. Mr. Brandicourt will turn 65 in February 2021.
The drugmaker has been working on a “succession plan for some time now, in agreement and consultation with our CEO,” a company spokesperson told Reuters.
Mr. Brandicourt was hired in 2015 to help reshape Sanofi, which was facing intense pricing pressure from its diabetes unit and a thin pipeline of new drug candidates. Soon after taking the helm he unveiled a restructuring plan to cut costs and jobs.
Under his leadership, Sanofi sold its animal health unit to Boehringer Ingelheim and acquired the German firm’s consumer healthcare operations in a $20 billion deal. It also sold off its European generics unit.
Read the full report here.
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