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Jan 30, 2015

Three months on, fruitless CEO search overshadows Sanofi

PARIS, Jan 30 (Reuters) – Barring a last-minute
breakthrough, drugs firm Sanofi’s Chairman Serge
Weinberg may have to acknowledge in his results presentation
next week that the hunt for a new chief executive is not going
well.

At least three potential candidates in a narrow field have
turned their back on the job heading France’s largest company.

Jan 22, 2015

Ousted Sanofi CEO gets 4.44 mln eur severance package

PARIS, Jan 22 (Reuters) – European pharmaceuticals group
Sanofi on Thursday said it had agreed to pay 4.44
million euros ($5.06 million) in total to ousted chief executive
Chris Viehbacher.

Viehbacher, who left in October, will receive a payment of
2.96 million euros, which corresponds to his fixed and variable
compensation for the year, Sanofi said in a statement.

Jan 16, 2015

Paris police arrest 12 linked to shootings as US’ Kerry arrives

PARIS (Reuters) – Police arrested a dozen people suspected of helping the Islamist militant gunmen in last week’s Paris killings, the city prosecutor’s office said on Friday as U.S. Secretary of State John Kerry arrived for talks.

The arrests came after Belgian police killed two men who fired on them during one of about a dozen raids on Thursday against an Islamist group and German police said they had arrested two people following a raid on 11 properties linked to radical Salafists.

Jan 12, 2015

Paris tourism launches “open for business” campaign after shootings

PARIS (Reuters) – Representatives of the Paris tourist industry will set off on a world tour next month to reassure visitors and agents that the French capital is safe and open for business after last week’s fatal shootings by Islamist militants.

France, which is struggling to get economic growth going, is the most visited country in the world. Almost 85 million foreigners a year support a 150 billion euro ($177 billion) industry that delivers 7 percent of the nation’s GDP, according to government figures.

Dec 28, 2014

Missing AirAsia plane young, basic, hard-working

LONDON/PARIS (Reuters) – The AirAsia plane that went missing on Sunday is young by commercial aircraft standards. It has also worked hard and lacks real time engine diagnostics, in accordance with its role as a short-haul aircraft.

Indonesia AirAsia Flight QZ8501, an Airbus 320-200 with 162 people aboard, lost contact with Jakarta air traffic control at 6:17 a.m. (1917 ET) after taking off from Surabaya airport in Indonesia bound for Singapore, officials said. The pilots had asked to change course to avoid bad weather.

Dec 18, 2014

Carrefour closer to Brazil listing with Diniz deal

PARIS (Reuters) – Carrefour (CARR.PA: Quote, Profile, Research, Stock Buzz) has sold a 10 percent stake in its Brazilian business to billionaire Abilio Diniz, in a first step towards a possible separate listing, as Europe’s largest retailer looks to raise cash to accelerate growth in its second-largest market.

With its core French market on the mend, Carrefour head Georges Plassat has long said he wanted to speed up expansion in fast-growing Brazil and China, and that a flotation in Brazil was one of its funding options.

Oct 30, 2014

Power of “France Inc” on display in Sanofi boardroom coup

PARIS, Oct 30 (Reuters) – Events at Sanofi this
week cost a high-flying German-Canadian boss his job and global
investors billions. They are also a reminder that corporate
France carries the national interest in its DNA, and neglects
its family duties at its peril.

Chris Viehbacher, sacked by a unanimous vote of his board on
Wednesday, made the group into a multinational, a top five
global drugmaker with a footprint in over 100 countries.
Although Paris-listed, the firm has less than a quarter of its
employees in France, while a majority of its shareholders are to
be found outside the country.

Oct 22, 2014

GDF shake-up promises breakthrough for French women in blue chips

PARIS, Oct 22 (Reuters) – Isabelle Kocher’s new role puts
her in line to head utility GDF Suez from 2016 but
right now no woman runs a French blue chip company. Along with
the rest of continental Europe, the country lags Britain and the
United States on gender equality.

Kocher, 47, was named on Tuesday as deputy chief executive
and chief operating officer at GDF Suez.

Oct 14, 2014

French prime minister seeks to defuse toll roads row

PARIS, Oct 14 (Reuters) – France’s prime minister sought to
defuse a row over road tolls and keep billions of euros of
motorway renovation work on track on Tuesday, meeting worried
concession bosses after one of his team threatened to slap a new
tax on them.

Government criticism of “excessive” tariffs and the profits
of toll road operators privatised under the previous
administration comes as the highly unpopular ruling Socialists
try to shake off accusations from the left that their efforts to
be business friendly are hurting household spending power.

Oct 8, 2014

Air France puts cost of pilots strike at 500 million euros

PARIS (Reuters) – Air France put the total cost of last month’s two-week pilots strike at 500 million euros ($632 million) on Wednesday, wiping more than a fifth off its parent group’s estimated full-year core profit.

Air France-KLM (AIRF.PA: Quote, Profile, Research, Stock Buzz), Europe’s second-biggest network carrier by revenue, had already revised down its target for 2014 earnings before interest, tax, depreciation and amortization (EBITDA) in July from 2.5 billion euros to between 2.2 and 2.3 billion.

    • About Andrew

      "Andy leads the London-based team that edits company news copy from around Europe, the Middle East and Africa and supports EMEA Companies Editor of Charge Chris Wickham. Andy is a newswire "lifer" with experience in reporting and editing in London, Singapore and Paris. A one-time oil industry specialist, his first industry job in the early 1980s was collecting pepper and banana prices for Agence France Presse."
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