Monday 3 November 2014

How the wheels came off for Sanofi's CEO

File photo shows Chris Viehbacher attending Sanofi's 2012 annual results presentation in Paris By Noëlle Mennella and Carolyn Cohn PARIS/LONDON (Reuters) - Chris Viehbacher speaks plainly. "We had somewhat of a mess in Brazil," he told financial analysts in August 2013, "so that's why I decided to change management." Fifteen months later he has gone the same way as the Brazilian employees he sacked so decisively - fired as chief executive of French drugmaker Sanofi at a dawn board meeting, with the "mess in Brazil" cited as one of the reasons. The whirlwind week began on Monday Oct. 27 with a leaked letter to the board, dated Sept. 4, in which Viehbacher wrote of rumours of a plot against him at board level and demanded clarity. There was no opportunity for shareholders to say they did not want him to go." In truth, Viehbacher's downfall was a rather more slow-burn affair.




via Health News Headlines - Yahoo News Read More Here..

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