PARIS, March 5 (Reuters) - French drugmaker Sanofi said on Wednesday its board had proposed naming Alstom Chief Executive Patrick Kron as an independent director.
If the appointment is approved during Sanofi’s annual shareholders’ meeting on May 5, Kron would replace Lord Douro, who has served on the Board for 12 years, Sanofi said in a statement.
Patrick Kron was Chief Executive of Imerys before joining Alstom in 2002. He has been Alstom’s chief executive since January 1, 2003.
Alstom, which makes trains and turbines for power plants, cut its cash flow and profitability targets earlier this year because of weak orders from utilities. (Reporting by Natalie Huet; Editing by Andrew Callus)