Sanofi, a French multinational pharmaceutical company headquartered in Paris, had been searching for a successor of their current Chief Executive Olivier Brandicourt, a Sanofi spokesman with knowledge regarding the subject matter had revealed on Monday, the 18th of March 2019.
Besides, the spokesman had also added that the fifth largest pharmaceutical company in the world in terms of prescription sales had been working on a plan to find out their CEO in agreement and consultation with present Chief Executive Brandicourt.
Sanofi had an age limit of 65 for qualifying for their CEO job, and their current CEO, Brandicourt would be 65 by February 2021. None the less, Olivier Brandicourt, 63, a business executive and a physician, had been appointed as Chief Executive of Sanofi in February 2015.
Citing that the Sanofi Board of Directors had been sketching out a plan to seek a new succession, a Sanofi Spokesman said, “The is the responsibility of any company’s board of directors to consider and plan for the succession of its CEO and executive committee members by identifying the next set of future leaders.
With this perspective, the board has been considering this succession plan for some time now, in agreement and consultation with our CEO,” as cited in a Reuters’ report on Monday (March 18th).