Sanofi’s board of directors announced on February 12, 2026 that it would not renew the mandate of Chief Executive Officer Paul Hudson, whose tenure began in September 2019. Hudson’s last day as CEO will be February 17, 2026, and the board has named former Merck KGaA chief executive Belén Garijo to take over at the end of the Group’s Annual General Meeting on April 29, 2026.
Belén Garijo brings a decade‑plus track record in the pharmaceutical industry, having led Merck KGaA as CEO since May 2021 and previously holding senior roles at Sanofi for 15 years, including Vice President of Pharmaceutical Operations for Europe and Canada and integration lead for Genzyme. The board highlighted her reputation for “rigor” and her focus on strengthening productivity, governance, and the innovation capacity of research and development.
The decision followed mounting investor and analyst pressure over Sanofi’s ability to sustain growth beyond its flagship drug Dupixent and to navigate vaccine headwinds in the United States. Concerns were amplified by the looming patent expiry of Dupixent, R&D setbacks, and lower vaccine coverage rates driven by public debates and policy changes. Hudson’s Q4 2025 results—sales growth of 13.3% and a 26.7% rise in business EPS—were strong, yet analysts noted that the company still faces limited pipeline catalysts for 2026.
Investors reacted with caution. BofA Securities downgraded Sanofi from “Buy” to “Neutral,” citing the “rebuild and transition” period and limited pipeline catalysts, while Jefferies analysts remarked that a management change had been debated for some time following Sanofi’s R&D strategy hitting potholes.
Garijo’s track record at Merck KGaA has attracted some criticism, with analysts pointing to a lack of transformational deals and questionable R&D progress. Nevertheless, her deep familiarity with Sanofi’s operations and culture is viewed as an asset in navigating the company’s current challenges.
During the transition, interim CEO Olivier Charmeil, executive vice president of General Medicines, will oversee Sanofi’s operations until Garijo assumes full responsibilities at the AGM’s conclusion.
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