is a powerful figure and well connected

Sanofi board heavyweights may be key to Genzyme deal

This means Viehbacher has to keep his own board of directors onside.unusual is the way Sanofi has been cobbled canada goose outlet black friday sale together, said Harry Korine, who teaches corporate governance at canada goose outlet sale London Business School and global strategy at French business school INSEAD.means canada goose parka outlet uk you have shareholders who have a very, very long term interest in the company, who known the constituent parts for decades, and it makes decision making harder than a company that had 20 or 30 years of uniform, organic growth.Any hopes from Genzyme shareholders for a dramatically canada goose outlet toronto address improved bid may hinge on how the internal dynamics of this disparate board play out.Both Total and L have deep roots in Sanofi Aventis and retain influence over management of the company.Sanofi was owned until 1998 by Elf Acquitaine, which was later bought by Total. Luxury cosmetics group L owned Sythelabo https://www.canadagoose-coats.ca , which merged with canada goose outlet winnipeg address Sanofi that year.The pair goose outlet canada together own about 15 percent of the stock and 27 percent of the voting rights. Current and former L and Total executives represent canada goose jacket outlet a third of the board, a fact some experts say gives the two companies too much influence.Former canada goose outlet store quebec L chief executive and current chairman Lindsay Owen Jones, 64, has canada goose outlet legit sat on the board for roughly 10 years, one of the longest tenures. He is a legend in French business for turning L from a French haircare specialist into a global cosmetics giant.NATURALLY CAUTIOUS With him sits L finance head Christian Mulliez next , 49, canada goose outlet uk fake also a pharmaceutical industry veteran, who worked for Synthelabo for more than a decade.a pharma guy way canada goose outlet in usa before he canada goose outlet uk a cosmetics guy. He knows Sanofi inside and canada goose outlet kokemuksia out so he is bound to be a board leader, but he also a CFO which makes him naturally cautious, said a Paris based banker who asked not to be named.While many market watchers agree L and Total dominate the board, they also say their influence is on the wane.Both are looking to exit their stakes entirely. Total has said it will get out by 2012 and L will exit if and when it finds a suitable acquisition.Total is already scaling back its presence and in July, 53 year old Total Chief Financial Officer Patrick de la Chevardiere quietly resigned two years before his term expired.This leaves current canada goose outlet locations in toronto Total Chairman Thierry canada goose outlet shop Desmarest canada goose outlet winnipeg and former Total CFO Robert Castaigne on the board, but they too are likely to leave in coming years as Total exits its position.Jean Francois Dehecq stepped down as Sanofi Aventis chairman recently after building the company over canada goose outlet ontario the past 30 years.Weinberg transformed PPR into a European luxury and retail giant, won a bidding war for Gucci then didn blink when designer Tom Ford walked out the door after a contract dispute.is a powerful figure and well connected. I think canada goose outlet us he will be a strong chairman of the board. But to me the major change is the departure of Dehecq. He created that company, said Reinhard Angelmar, a professor in marketing at INSEAD.Because of Dehecq many mergers, he brought together a board in which six directors have canada goose outlet online uk significant experience in the pharmaceutical industry. Even Claudie Haignere, a former astronaut and a former minister in canada goose coats uk the French government, started her career as a physician.Still, Viehbacher said this week he believed Genzyme shareholders were willing to sell at a price indicating he may have enough headroom to strike a deal without too much boardroom wrangling.board may have set an upper limit on the Genzyme acquisition price, said Korine, the governance expert. they will have given Viehbacher sufficient headroom to do a deal. He would never have taken the job in the first place if he felt he was going to be pushed around.

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