Sanofi reveals Viehbacher pay-off package

Details of the severance package for ousted Sanofi chief executive Chris Viehbacher have been published which show that he received a pay-off of 2.96 million euros. 

Mr Viehbacher, who was sensationally sacked by the French drugmaker at the end of October, will also be paid 246,750 euyros a month until June 30 in return for an undertaking “not to compete” until then. The package also includes a 24-month confidentiality deal and Mr Viehbacher has agreed not to hire any Sanofi employees for 18 months.

Also, given that his departure is not “linked to a resignation or to misconduct”, he can still exercise his existing options.

Sanofi has not found a replacement for Mr Viehbacher yet. One of his rumoured successors, Takeda chief operating officer Christophe Weber, told Reuters this week that he had been approached but ruled himself out, saying “I just arrived [at the Japanese firm] and I’m not the kind of guy who would jump like that”.

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