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Sanofi CFO set to step down this year

Published on 18/04/18 at 09:02am

After a busy start to the year, with a number of acquisitions and a few divestments, Sanofi’s Chief Financial Officer, Jérôme Contamine, is set to retire before the end of the year.

The news broke through Bloomberg, after a Sanofi spokesperson confirmed that Contamine will leave the company, though he will be involved in the process of finding his replacement and ensuring a smooth transition process.

The start of 2018 has been a busy one for Sanofi, though it will have been pleased to make two major acquisitions, in the form of Bioverativ for $11.6 billion and Ablynx for $5 billion, after having failed on a few deals, such as the Medivation and Actelion deals where rivals managed to beat the French company to close out the deals.

At the beginning of this week, it was also revealed that it had divested 12 drugs to Charterhouse’s Cooper-Vemedia and looks set to sell European generics company, Zentiva, to Advent for $2.3 billion.

It’s has clearly been a busy period for Contamine but no further details about why he has chosen to leave the company have been revealed. Given that he will be involved in the transition process of his replacement, it seems unlikely the decision is in acrimonious circumstances.

He has presided over a period where the diabetes market boomed, only for it to become sluggish in recent years leading him to refer to 2017 as the “toughest one” the company had faced in the space.

Contamine has held his position at Sanofi for nearly a decade, after joining the company in March 2009. Prior to working at Sanofi, he had been Senior Executive Vice President, Deputy General Manager of Veolia Environnement, a waste, water and energy services company.

The exact date of Contamine’s departure has not yet been revealed.

Ben Hargreaves

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