Sanofi Ousts CEO Paul Hudson, Appoints Merck Veteran Belen Garijo

Sanofi's board of directors has abruptly removed Paul Hudson from his role as CEO after a six-year tenure leading the French pharmaceutical giant. The company announced that Belen Garijo, the former CEO of Merck KGaA, will succeed Hudson to steer the firm through its current challenges. This leadership shake-up follows a period of significant setbacks in Sanofi's drug development pipeline and a disappointing performance in research and development. Investor confidence has been further shaken by a substantial decline in the company's share price over the past year. Analysts suggest that the appointment of Garijo is a strategic move to stabilize the company and revitalize its clinical trial outcomes. However, the sudden nature of the transition is expected to trigger short-term volatility for SAN.PA and SNY shares as the market assesses the new leadership's direction.