A once-unthinkable revolution is quietly sweeping France's corporate landscape: Foreign-born CEOs [Fortune]
Sanofi - American Depositary Shares (SNY)
US:NYSE Investor Relations:
sanofi.com/en/investors
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Source: Fortune
With some of them succeeding in the briefs they've been given, the trend may be here to stay. The flag bearer Air France-KLM, the symbol of the country's manufacturing industry Renault SA, the nation's biggest pharmaceuticals company Sanofi and its troubled tech champion Atos SE that serves the critical nuclear and defense industries are all being helmed by executives who are not French. Although not unusual in the UK or the US, the phenomenon marks a sea change in the corporate landscape in France, where jobs at key companies used to go not just to French executives, but those that had attended certain elite schools — like the École Nationale d'Administration or Polytechique. “The world has become a lot more flexible and very global, and CEO hires reflect this,” says Philippe Waechter, chief economist at Ostrum Asset Management. “The older generation didn't have such an open culture.” The hirings have also coincided with the increasing internationalization of France's largest
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