L’Oréal Played a Key Role in Sanofi CEO Ouster, Successor Pick

L’Oréal SA played a key role in the ouster last week of Sanofi SA Chief Executive Officer Paul Hudson and the choice of his successor, in what was a major corporate shakeup for the French pharmaceutical company.

The push by the French cosmetics giant, Sanofi’s biggest shareholder, led to the naming of Merck KGaA CEO Belén Garijo to succeed Hudson, according to people familiar with the matter who didn’t want to be named citing confidential discussions.