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

April 20, 2024

CureVac and MD Anderson Cancer Center partner to develop new cancer vaccines

Life sciences

CureVac and the University of Texas’s MD Anderson Cancer Center have announced a co-development and licensing agreement to develop novel messenger ribonucleic acid (mRNA)-based cancer vaccines. The strategic collaboration will focus on the development of differentiated cancer vaccine candidates in selected haematological and solid tumour indications with high unmet medical needs.

April 20, 2024

FUJIFILM plans $1.2 billion investment in major US manufacturing facility

Life sciences

FUJIFILM Corporation is planning to invest $1.2 billion to expand the planned FUJIFILM Diosynth Biotechnologies manufacturing facility in Holly Springs, North Carolina, US. This news follows the organisation’s announcement of a $2 billion investment in the facility in March 2021. This additional financial boost totals the investment to over $3.2 billion, FUJIFILM confirmed.

April 20, 2024

Sanofi cuts staff in Belgium as early-stage research dwindles

Life sciences

Sanofi’s global restructuring and downsizing is now fully underway, with layoffs stretching to the company’s Belgian offices. Belgian newspaper De Tijd reports that 67 employees have been laid off at a site in Ghent and 32 jobs are on the chopping block at Sanofi’s Belgium HQ in Diegem.

How can we help you?

We're easy to reach