In a short statement, Sanofi’s board announced a unanimous decision to remove Chris Viehbacher as CEO. But speculators argue that the move may be mis-judged.
Chris Viehbacher was removed from his position as CEO, and has subsquently resigned from Sanofi.
Increasing tension in the boardroom is thought to be behind the decision, with Viehbacher telling Reuters just a day before that he couldn’t say if he had the support of the board.
Reports suggest that his management style (he is said to have been nicknamed ‘smiling killer’ by trade unionists) has become the major issue.
Not all commentators support the move, however. In an open letter to the group, Forbes journalist and science/medicine reporter Matthew Herper remembers the group pre-Viehbacher as ‘stodgy’ and ‘completely lost’.
The frictions on the board, Herper believes, are the symptom of a culture of resistance to change.
The official party line in the group’s statement is:
Going forward, the Group needs to pursue its development with a management aligning the teams, harnessing talents and focusing on execution with a close and confident cooperation with the Board.
Many have said this week that though Viehbacher was hugely progressive for Sanofi, those in management felt he was acting independently.
Herper says that the promises of a continued strategy ‘ring hollow’ at present, and suggests that the group will struggle to find a dynamic enough individual to cut through the bureaucracy at the firm.