Sanofi Should Take Note: Insiders Might Just Make Better CEOs
As Sanofi looks for a replacement for Chris Viehbacher, it might want to take the recent track records of the CEOs at its competitors into consideration before making a decision.
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Bristol CEO Lamberto Andreotti will step down as CEO in May but remain as chairman of the board, making way for insider Giovanni Caforio to take over the top slot. His task will be overseeing Bristol’s transition to a commercial-stage immuno-oncology powerhouse.
The biotech laid out its pipeline during a Dec. 10 R&D day in hopes of convincing analysts and investors that its rare disease focus will pay off in coming years.
The French pharma's abrupt dismissal of its CEO, citing execution problems with its best-selling drug and issues with management style, has investors wondering whether Chris Viehbacher should have gotten the benefit of the doubt from the company’s board, given his impressive track record.