In the latest effort to jumpstart operations, Sanofi is shifting top management and replacing the executive who oversees the struggling diabetes franchise.
The move comes five months after Pascale Witz was shifted to run the all-important diabetes portfolio, as well as the cardiovascular drugs business. She will leave next month, according to a brief statement by the drug maker on Monday. Replacing her is Peter Guenter, who has been with Sanofi for 21 years, most recently as executive vice president for general medicine and emerging markets.
The shake-up comes amid a reorganization launched by Olivier Brandicourt, who recently completed his first year as Sanofi chief executive and attempts to revamp the struggling drug maker. Last summer, he created new business units and, more recently, began eliminating numerous jobs to compensate for the slump in the diabetes franchise, which accounted for 22 percent of roughly $38 billion in sales last year (see page 97).