Another Sanofi Executive Abandons Ship
It’s been some time since we visited with our wine drinking friends in France as quite frankly there hasn’t been much reason to. Listen it’s well the insulin franchise lead by Lantus is dying a slow and excruciatingly painful death. There isn’t much in the pipeline that looks promising and the once ballyhooed partnership with Google is well silent. So, it really should not come as a shock that Sanofi (NYSE: SNY) has lost another high-level diabetes executive. Only this time it’s the executive who is jumping off the Titanic and not Sanofi doing the beheading.
According to various press reports Peter Guenter who headed up global diabetes for the company has left to become CEO at Almirall. Just what this means for Sanofi is anyone’s guess. About the only thing we know for sure is this is not good news and will only create more dissension among an already disgruntled group of employees in the diabetes franchise. Saying this franchise has some serious issues is like saying Houston has minor water problem.
Frankly Mr. Guenter should be commended for getting out before the customary beheading that’s been bestowed upon past diabetes executives and a former CEO. When our good buddy Serge says he wants to hold people accountable he isn’t kidding. The mantra for Sanofi diabetes has been either produce or off with your head. It really does not seem to matter much that Serge has thrown everyone in the diabetes franchise under the bus and just for good measure backed up the bus just in case he missed anyone the with the first pass.
Now some would say that it is Serge who should be held accountable and it’s his head that should be on the chopping block. However, this is not how the French handle such ineptitude. Nope rather than acknowledge the many mistakes made by the company let’s ignore them, blame the peasants and off with their heads. This my friends is the French way. Which is in sharp contrast to the Chicago way which was eloquently described by Sean Connery in the movie the Untouchables –
“You wanna know how to get Capone? They pull a knife, you pull a gun. He sends one of yours to the hospital, you send one of his to the morgue. *That’s* the *Chicago* way! “
So, let’s commend Mr. Guenter for getting out with his head intact. Now let’s see who’s next in line for the march to the guillotine.