Sanofi’s Viehbacher Under Pressure Amid Board Tensions
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Sanofi’s stalled effort to sell an $8 billion drug portfolio -- a review that Chief Executive Officer Chris Viehbacher undertook without informing his board - - is the latest example of how the CEO is increasingly butting heads with some board members.
In July, a labor union leaked plans for the possible sale, decrying it as evidence that Viehbacher was dismantling the Paris-based company. The potential divestiture -- pursued by Viehbacher in part to reduce Sanofi’s manufacturing presence in Europe -- caught the board off guard, said several people with knowledge of the matter who asked not to be identified discussing confidential subjects.