The CEO Agenda provides unique insights into how leaders think, lead, and do what they do in a world of constant change. We explore the lives, minds and plans of the leaders of the world’s most iconic companies.
Paul Hudson, CEO of Sanofi, works in a volatile business. The pharmaceutical sector has been very profitable for many decades, and its weight in the economy has grown steadily. But when it comes to individual companies, there’s a line from the late Oscar winner Marie Dressler: “You’re only as good as your last picture”—or, in this case, your latest blockbuster drug.
What’s more, Hudson joined Sanofi, a leading French pharmaceutical company, just before we were hit by the biggest global public health crisis in a century. He became CEO in June 2019. Six months later, COVID appeared in China, and a little later throughout the world. In those early days of his reign, Sanofi saw little action. Pfizer, Johnson & Johnson, AstraZeneca and Roche developed their vaccines and diagnostics within months. Sanofi got in on the action but faded into the background when its efforts to create a COVID vaccine failed.
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Sanofi’s place in the Fortune 500 Europe ranking for 2023
But the world of pharmaceuticals is constantly changing, and so is Sanofi. In 2022 and 2023, updates on trials and regulatory reactions to Sanofi’s new asthma drug caused its stock to rise and fall, as did regulatory involvement in Sanofi’s planned acquisitions. Today its share price is up more than 15% from five years ago. And Hudson is patiently but feverishly building the Sanofi of tomorrow.
IN Luck At a dinner in 2023, he and I discussed what artificial intelligence will mean for business. He was adamant that this would lead to transformation; I was skeptical. As you’ll read from Hudson’s responses below, the UK CEO has redoubled his AI efforts, and it’s starting to pay off: Today, Sanofi is becoming a leader in AI.
This interview has been edited for brevity.
Let’s get down to business
Luck: What global news do you like best?
Paul Hudson: In today’s world it’s simply impossible to choose just one. As is now often said, we are facing a “permanent crisis” or a prolonged period of instability and insecurity. As we continue to see increasing polarization around the world, it is striking to see that the global issues at stake are more interconnected than ever.
Our CEO, Paul Hudson, reflects on how we start the year as a growth, science and technology-focused biopharmaceutical company: https://t.co/QUoWTayzf4
#SanofiResults $SAN $SNY pic.twitter.com/Zhv8w8UiEY— Sanofi (@sanofi) February 1, 2024
What is the most important project you are working with your company?
At Sanofi, we are in the process of modernizing the entire company – everything from science to production and culture. Much of the driving force behind our modernization is our desire to become the first biopharmaceutical company to operate on AI at scale. This means we are fully leveraging the power of artificial intelligence across our value chain to harness the pace of scientific discovery, improve our productivity and put better decision-making in the hands of our people. Always with the goal of accelerating scientific breakthroughs so we can innovate for patients faster.
Much of the driving force behind our modernization is our desire to become the first biopharmaceutical company to operate on AI at scale.
What long-term trend for society and the economy as a whole do you most expect? Which one bothers you the most?
It won’t come as a surprise, but I’m betting big on AI. It’s here to stay, and I believe that if we use it responsibly and ethically, AI will bring about positive change in our world in ways we can’t yet imagine.
A trend we should all be concerned about is climate change. Although progress has been made, it has been gradual at best. To build a more sustainable world, greater collaboration is needed, quickly, within and across industries. A prime example: healthcare systems as a whole account for 5% of all carbon dioxide emissions, with half of these emissions generated “downstream” in the delivery of patient care. We all – industry, governments, health professionals, hospitals, patients – will have to work together to find long-term solutions.
Stefania Pelfini, La Waziya Photography via Getty
If you were an economic policymaker, what would be your top priority for Europe?
Achieving healthcare autonomy for the EU. Health is a critical sector for Europe’s security, but it continues to receive insufficient attention due to a lack of investment. Particularly with regard to R&D, this is often associated with, among other things, complex regulatory obstacles. Europe already has a strong foundation for healthcare innovation with world-leading science, a vibrant startup ecosystem and strong bioclusters. What is needed now is a concerted effort from all stakeholders coming together to restore Europe as a healthcare leader and regain its competitive advantage in healthcare innovation.
Be productive
What time do you get up and what part of your morning routine sets you up for the day?
I get up around 6:30/7:00. My morning routine definitely includes coffee and checking in with family before I start checking email.
Until what time do you work? Do you continue to send emails at night and/or on weekends?
I’m more of a night owl and don’t mind working late. Saturday is reserved for family and personal time, and I usually use Sunday to prepare for the week ahead.
Amazon.co.uk
What apps or methods do you use to be more productive?
The plai app that I use daily was created specifically for Sanofi. It’s like lightweight AI in your pocket, giving me—and all of our employees—access to billions of aggregated data points from across the organization in real time. With this information at my fingertips, I can make better and faster decisions and identify potential problems or opportunities in seconds.
Who is on your “personal council”?
My three children because they keep me on my toes. Through their eyes, I see what the future of the next generation will look like, and this helps me as a leader today. Then a good friend from university (Manchester Metropolitan University) who helped me understand what was important in life; a data scientist who can help me be guided by ideas rather than bias; and a CEO from a completely different industry, with different views on leadership.
Let’s get personal
What book have you read recently or in the past that has inspired you?
Alex Ferguson “Running My Life”
Paul with his Olympic heroes:
© Bambasi / Provided by Sanofi
© Fisheye / Courtesy of Sanofi
If you could ask your idol one question, who would it be and what would you ask?
I consider Sir Alex Ferguson, the legendary manager of Manchester United, to be a true example of leadership. My question will be about his incredible ability to maintain the connection and commitment of all team members, not only in difficult moments, but also in moments of victory, and how he was able to maintain such high and consistent standards of excellence.
As a consumer, which company do you like best and why?
It’s hard to pick just one, but I would single out Apple for its customer-centric thinking, seamless user experience across all products, and ability to create a clear vision.
Michael M. Santiago/Getty Images
Who is your Olympic hero, current or past?
Athletes Team Sanofi who are going to give it their all at the upcoming 2024 Olympic and Paralympic Games in Paris: Valerian Ayayi, Amandine Bouchard, Ellie Challis, Dani Dunn, Ezra Frech, Nantenin Keita, Yul Moldauer, Lauren Rowles. This inspiring group of people have joined us in our partnership with the Paris 2024 Games, promoting diversity, inclusion and the values shared by science and sport.
The CEO Agenda provides unique insights into how leaders think, lead, and do what they do in a world of constant change. We explore the lives, minds and plans of the leaders of the world’s most iconic companies.