Sanofi's Leadership Transition: What You Need To Know

French pharma giant Sanofi SA (NASDAQ: SNY) confirmed speculation Friday that former Novartis AG (NYSE: NVS) executive Paul Hudson will assume office as CEO effective Sept. 1, taking over from Olivier Brandicourt, who is retiring.

Sanofi has a mandatory 65-year-old retirement age for its CEO.

The Swiss company Novartis confirmed Friday that Hudson, who was president of its pharmaceutical business and a member of Novartis' executive committee, would depart to take the CEO role at a multinational pharma company.