PARIS - Sanofi (NASDAQ:SNY), the global healthcare company with a market capitalization of $69.42 billion, has announced the appointment of Jean-Paul Kress, M.D., as an independent director to its Board of Directors effective January 1, 2025. Kress will be taking over the position from Gilles Schnepp, who has decided to step down at the end of 2024. According to InvestingPro data, Sanofi maintains a strong financial position with a P/E ratio of 5.87, indicating attractive valuation metrics relative to its peers.
Jean-Paul Kress brings over three decades of experience in the pharmaceutical industry to Sanofi’s boardroom. His previous leadership roles include serving as CEO of MorphoSys, which was acquired by Novartis (SIX:NOVN) earlier in 2024, and CEO of Syntimmune, leading up to its acquisition by Alexion (NASDAQ:ALXN). Kress has also held several senior positions in other pharmaceutical companies in the United States and Europe. His tenure as Chairman of the Board of Directors at ERYTECH Pharma and as a board member at Sarepta Therapeutics (NASDAQ:SRPT) further solidifies his extensive background in the sector. With Sanofi’s next earnings report scheduled for February 5, 2025, investors can access comprehensive analysis and forecasts through InvestingPro’s detailed research reports.
Kress’ appointment will be subject to ratification at Sanofi’s next Ordinary Shareholders’ Meeting. His term will coincide with the remaining duration of Schnepp’s term of office. In addition to his director role, Kress will join the Strategy Committee and the Scientific Committee of the Board.
Frédéric Oudéa, Chairman of the Board of Directors of Sanofi, expressed his gratitude to Gilles Schnepp for his dedication and significant contributions to the company’s governance, particularly in 2023. Oudéa also welcomed Kress, highlighting his "exceptional global expertise" and the value of his insights for the company’s strategic direction in the biopharmaceutical field.
Following the organizational changes, Patrick Kron will take over as Chairman of the Appointments, Governance and CSR Committee.
Sanofi remains focused on its mission to chase the miracles of science to improve people’s lives, with a strong commitment to sustainability and social responsibility. The company offers shareholders a dividend yield of 3.4% and maintains strong analyst support with a consensus recommendation of Buy. The company is publicly traded on both EURONEXT: SAN and NASDAQ: SNY. For detailed financial analysis and additional insights, investors can explore the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 top stocks including Sanofi.
This announcement is based on a press release statement from Sanofi.
In other recent news, Banco Santander (BME:SAN) has been the subject of noteworthy developments. The bank recently reported a record third-quarter profit of €3.3 billion, marking a 12% increase year-over-year. This contributed to an impressive €9.3 billion profit for the first nine months of 2023, a 14% increase from the previous year. Additionally, Santander declared a 14% increase in dividends per share and projected a 39% increase in future cash dividends in 2024.
Deutsche Bank (ETR:DBKGn) expressed confidence in Banco Santander, raising its price target to EUR5.80 from EUR5.75 and maintaining a Buy rating. This adjustment was based on Santander’s solid third-quarter performance in 2024, surpassing market expectations. Despite investor concerns over declining net interest income in Spain and Portugal, Deutsche Bank emphasized Santander’s robust financial performance and positive outlook for 2025.
In terms of operational highlights, Santander reported a 229 basis point improvement in efficiency and a return on tangible equity of 16.2%. The bank’s strong performance, particularly in Brazil, with net interest income increasing over 3% quarter-on-quarter and more than 22% year-on-year, was noteworthy. Additionally, the U.S. launch of Openbank attracted over €200 million in deposits in four weeks, and the Corporate and Investment Banking segment in the U.S. reported a 41% revenue increase. These recent developments underscore Banco Santander’s continued growth and profitability.
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