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Sanofi says board not discussing Viehbacher ouster

October 28, 2014 3:01 AM UTC

Sanofi (Euronext:SAN; NYSE:SNY) contradicted press reports that its board of directors planned to discuss ousting CEO Chris Viehbacher at a meeting on Monday. "[T]his ordinary Board meeting is mainly dedicated to the review of the quarterly results and there is no agenda item regarding the succession of Chris Viehbacher," Sanofi said in a brief statement.

A story published in Les Echos on Monday said Viehbacher had sent a letter to the board expressing concern over rumors it was mulling his replacement. Sanofi did not respond to inquiries concerning a digital copy of a letter dated Sept. 4 that accompanied the story. The letter warns that "changing the CEO now could be detrimental to the interests of shareholders and other stakeholders" given the double-digit increase in the share price this year and pending product launches. The letter, which is posted to the website Slideshare, does not contain Viehbacher's signature. ...