Monday, February 23, 2015

The bonus of the new head of Sanofi annoys the government – The World

The bonus of the new head of Sanofi annoys the government – The World

Olivier Brandicourt, the new boss of Sanofi laboratoir.

The government believes ” incomprehensible “ the bonus of the new boss of the French pharmaceutical group Sanofi, Olivier Brandicourt. Stéphane. Le Foll, spokesman for the government, said on RTL:

“It is incomprehensible. How all these people, who explain that it is the merit that it is liberal economics, risk, risk-taking that are to the results, these people, they hardly take the head a company – that is to say, they have not yet taken any risk are already assured of incommensurate pay? . “

Asked about RMC-BFM TV, the Minister of Ecology Ségolène Royal also found ” not normal at all “ this welcome bonus. “What we need is a bit of self-discipline in the decency of behavior” , said Ms Royal that “hopes” that Mr. Brandicourt will give up those 4 million.

“It would be a minimum. It takes a bit of decency, especially from pharmaceutical companies who depend on Social Security, so contributions on wages “, also said the minister, who “even when reminded that drugs are not reimbursed the French, so it’s finally all the French who pay Social Security (…) who will pay the welcome bonuses boss Sanofi” .


Sanofi announced Thursday the appointment of Olivier Brandicourt, 59, until now CEO of Bayer HealthCare, to the position of CEO as of April 2.

The pharmaceutical company has scheduled a gross annual salary of 1.2 million euros, a variable remuneration “target” of 150% of compensation annual fixed and may reach 250% of it, as well as stock compensation which will consist of an annual grant of 220,000 stock options and 45,000 performance shares.

“In consideration of the benefits to which he gave up by leaving his former employer” and to greet his arrival in the company, Sanofi also preparing to pay a gross lump sum of two million euros payable to taking office, renewable if he remains in the company in 2016, which will complement the award of 66,000 performance shares subject to performance conditions.

Read also: After five months of vacancy, Sanofi has a new boss


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