Sanofi Shares Fall Over 6% After Board Appoints Garijo as CEO
Sanofi’s board on February 11 decided not to renew Paul Hudson’s mandate and appointed Merck KGaA executive Belén Garijo as CEO. Shares fell more than 6% and Bank of America downgraded the stock to neutral following the leadership change.
1. Board Ousts Hudson and Names Garijo
On February 11, Sanofi’s board decided not to renew Paul Hudson’s mandate and appointed Merck KGaA executive Belén Garijo as the company’s new chief executive.
2. Market Reaction and Rating Downgrade
Shares dropped more than 6% following the leadership change and the stock was downgraded to neutral by Bank of America, highlighting investor concern.
3. New CEO’s Background and Outlook
Garijo, formerly head of healthcare at Merck KGaA, will oversee pipeline advancement and strategic initiatives as Sanofi seeks to regain momentum.
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