Weak euro boosts Sanofi earnings, to name CEO in Q1

jueves 5 de febrero de 2015 02:33 GYT
 

PARIS Feb 5 (Reuters) - Sanofi said on Thursday it would be in a position to name a new chief executive by the end of the first quarter as it delivered fourth-quarter earnings boosted by the weak euro.

The drugs company, which sacked Chris Viehbacher as CEO last year, nevertheless said it would need the euro to stay weak to ensure significant earnings growth this year.

Business earnings per share grew 1.5 percent from a year ago in the quarter to 1.39 euros ($2). At constant exchange rates there would have been no growth.

"The announcement will be before the end of the first quarter," said Chairman Serge Weinberg, who has been acting CEO since Viehbacher was fired at the end of October for poor execution of strategy and a lack of communication with his board. ($1 = 0.8817 euros) (Reporting by Andrew Callus; Editing by James Regan)