Sector News

Sanofi chairman laments deterrence effect of French tax amid CEO search

December 8, 2014
Life sciences
(Reuters) – France’s high tax burden makes it hard to recruit top executives, Sanofi Chairman Serge Weinberg said on Thursday, as the drugmaker continues to hunt for a new boss.
 
Weinberg was instrumental in the October ousting of Chris Viehbacher as CEO and has since been filling the role himself on a temporary basis.
 
“The deterioration of French tax-competitiveness and the burden on companies and individuals pose a problem,” Weinberg told reporters in Paris.
 
“It’s extremely difficult to attract international executives or even bring back French ones who have left. There will be consequences if this continues, because we can’t rely on patriotic sentiment or goodwill alone.”
 
Weinberg would not respond to rumours that the job had been turned down by Smith & Nephew’s French boss Olivier Bohuon, seen as a favourite to replace Viehbacher.
 
“We have no comment on the subject,” Weinberg said, adding that he had merely been speaking “in general” about recruitment challenges. By Noelle Mennella (Writing by Laurence Frost; Editing by David Goodman)

comments closed

Related News

February 4, 2023

MedTrace receives U.S. patent for diagnosing the human heart

Life sciences

The U.S. Patent and Trademark Office issued a patent to MedTrace for their method of diagnosing the human heart via 15O-water PET. The patented method is the foundation of the company’s software aQuant, currently under development. Hendrik “Hans” Harms, PhD and Senior Scientist at MedTrace, and Jens Soerensen, Professor and Clinical Advisor to MedTrace, are the originators of the method.

February 4, 2023

Roche taps insider Teresa Graham for top pharma job as setbacks prompt M&A questions

Life sciences

Teresa Graham, currently head of global product strategy for Roche pharma, will become the division’s new CEO next month, Roche said Thursday. Simultaneously, Roche is elevating Levi Garraway, chief medical officer, to the executive committee.

February 4, 2023

J&J’s pharma group quietly works through global overhaul, with layoffs expected to reach multiple countries

Life sciences

Fierce Pharma has obtained internal documents and video of a town hall meeting conducted this week describing what J&J called a “comprehensive review” of its portfolio. Moving forward, J&J plans to operate its vaccines and infectious diseases outfits as one group, the executives explained.

How can we help you?

We're easy to reach