© Reuters. The logo of Sanofi is pictured in the course of the Viva Tech begin-up and technologies summit in Paris

PARIS (Reuters) – Sanofi (PA:) is functioning on a succession program to locate a new CEO in agreement and consultation with existing Chief Executive Olivier Brandicourt, a spokesman with the French drugmaker told Reuters on Monday.

Sanofi has set an age limit for its CEO job at 65. Brandicourt will be 65 in February 2021.

“It is the duty of any company’s board of directors to think about and program for the succession of its CEO and executive committee members by identifying the subsequent set of future leaders,” a spokesman told Reuters.

“With this point of view, the board has been thinking about this succession program for some time now, in agreement and consultation with our CEO,” he added.

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