May 2026 Pharmaceutical Industry Leadership Shake-up: 29 Local Executives Depart, 6 Multinationals Restructure Management

By Shi Yuan

On May 29, Livzon Pharmaceutical Group issued an announcement stating that Mr. Dai Weiguo voluntarily resigned from his position as Vice President of the company and all roles held in its subsidiaries due to personal family and career development reasons. It is reported that Mr. Dai joined Livzon Pharmaceutical Group on April 11, 2019, succeeding Fu Daotian as General Manager of Zhuhai Livzon Monoclonal Antibody Biotechnology Co., Ltd.

On June 2, Macquarie pointed out in an industry research report that frequent personnel changes in Livzon Pharmaceutical's R&D department in recent years may increase the difficulty of the company's research work. It is expected that innovative products will not be launched until 2024, which will significantly lag behind peers. Therefore, its investment rating was downgraded from "outperform" to "neutral" to reflect the uncertain medium-term prospects.

According to incomplete statistics, more than 100 senior executives in the pharmaceutical industry have resigned since 2020. In May this year, talent mobility in the industry significantly intensified. According to announcements disclosed by domestic listed companies, 29 senior executives from 21 local enterprises applied for resignation and were approved, including 21 males and 7 females.

Executive Departures and Changes at Listed Pharmaceutical Companies in May 2020

Kangmei Pharmaceutical had the highest executive turnover rate in May, with seven senior executives resigning en masse. On May 14, the China Securities Regulatory Commission (CSRC) officially issued its penalty decision regarding Kangmei Pharmaceutical’s case of fabricating substantial revenue. The penalties included securities market bans ranging from 10 years to lifetime for six key individuals responsible: Ma Xingtian, Chairman and General Manager; Xu Dongjin, Vice Chairman and Executive Deputy General Manager; Lin Guoxiong, Deputy General Manager; Zhuang Yiqing, Chief Financial Officer; and Wen Shaosheng, Deputy General Manager. The following day, Kangmei Pharmaceutical announced that it had received resignation letters from the aforementioned five individuals, as well as from Luo Jiaqian, Chairman of the Supervisory Board, and Ma Huanzhou, Employee Supervisor, with all resignations taking effect immediately.

In addition to the industry buzz generated by news of their departures and resignations, the post-departure reemployment of these executives has also become a matter of significant industry concern. According to incomplete statistics, in May, four executives joined new companies after leaving their previous roles, while five executives assumed new positions within their respective groups. Among them were:

Appointment of Senior Executives at Pharmaceutical Companies in May 2020

In a similar vein, announcements on the official websites of multinational pharmaceutical companies revealed that six multinational corporations, including GE and Sanofi, have begun to realign their organizational structures in response to evolving business needs. This includes the departure of four senior executives seeking new career opportunities, and the internal reappointment of twelve other senior executives.

▌GE: Duan Xiaoying steps down; Xiang Weiming takes over

On May 6, GE announced that Ms. Duan Xiaoying, a 24-year veteran of the company, has decided to step down from her role as President and CEO of GE International and leave the organization to embark on a new chapter in her life. Concurrently with Ms. Duan’s departure, GE announced that Mr. Nabil Habayeb, current President and CEO of GE Middle East, will assume the role of President and CEO of GE International, while Mr. Xiang Weiming, current President of GE Aviation Greater China, will become the new President of GE China, reporting to Mr. Habayeb. These appointments took effect on June 1.

It is understood that Xiang Weiming graduated from Northwestern Polytechnical University in China with a major in aero-engine design. Before joining GE, he worked at the Aviation Industry Corporation of China, Ltd. (AVIC). He has been serving the company for 28 years to date.

Furthermore, on April 28, at Sanofi’s Annual General Meeting of Shareholders, Duan Xiaoying was appointed as a new Independent Director.

▌Danaher: Transition Between Outgoing and Incoming CEOs

On May 6, Danaher’s official website announced that Thomas P. Joyce Jr., President and Chief Executive Officer of Danaher, will retire upon the expiration of his term on September 1, 2020, and will be succeeded by current Executive Vice President Rainer M. Blair. Additionally, Mr. Joyce will remain with Danaher as a Senior Advisor until February 28, 2021, following his retirement.

▌Sanofi: Adjusts Organizational Structure in China; Former Head of Pasteur Joins Ipsen

On May 19, Sanofi announced that its organizational structure in China would be aligned with its global framework, implementing a comprehensive responsibility system for its global business units. The company’s operations in China will be restructured around three core global business units—Specialty Care, General Medicines, and Vaccines—with corresponding leaders appointed. Specifically, Mr. He Enting, current President of Sanofi China, has been appointed as General Manager of Sanofi’s Global General Medicines Business Unit in China and President of Sanofi China; Mr. Wang Baikang, current General Manager of the Specialty Care Business Unit, has been appointed as General Manager of Sanofi’s Global Specialty Care Business Unit in China; and Mr. Zhang Heping, current General Manager of Sanofi Pasteur China, has been appointed as General Manager of Sanofi’s Global Vaccines Business Unit in China.

On May 29, Ipsen announced that David Loew, former head of Sanofi’s vaccine division (Sanofi Pasteur), has joined the company as Chief Executive Officer. On the same day, Sanofi also announced the appointments of four senior executives, including the new head of its vaccine division, to further streamline its executive leadership team. The appointees are:

Thomas Triomphe, currently Head of Franchise and Product Strategy at Sanofi Pasteur, will assume the role of Executive Vice President and Head of Sanofi’s Vaccine Division (Pasteur) effective June 15.

Natalie Bickford, currently Chief Human Resources Officer at Merlin Entertainments Group, will assume the role of Executive Vice President and Chief People Officer at Sanofi effective August 1. Ms. Bickford has previously held human resources leadership positions at Sodexo, AstraZeneca, and Kingfisher, bringing extensive consumer-facing experience to her new role.

Arnaud Robert, currently Chief Digital Officer at Viking Cruises, will assume the role of Chief Digital Officer at Sanofi on June 15, driving the company’s digital, data, and technology strategy. Previously, Robert held leadership positions at The Walt Disney Company and Nike, where he designed and launched the Apple Watch | Nike+ digital community.

Julie Van Ongevalle, current Global Brand President of Origins, a subsidiary of The Estée Lauder Companies, will succeed Alan Main as Head of the company’s Consumer Health business effective September 1.

▌Merck & Co. and AbbVie: Adjusting New Leadership at Subsidiaries Post-Spinoff and Acquisition

On May 8, AbbVie announced that its $63 billion acquisition of Allergan had finally been completed. Concurrently with the closing of the transaction, Allergan was officially renamed Allergan Aesthetics and became a subsidiary of AbbVie. On May 9, Wei Wang, former President of Allergan China, was appointed Vice President of Allergan Aesthetics and Head of Japan and the Asia-Pacific region. Meanwhile, Hanhua Qiu, former General Manager of Allergan’s Medical Aesthetics Division in Mainland China, was promoted to General Manager of Allergan Aesthetics in Mainland China.

On May 20, Organon, the newly spun-off company from Merck & Co., announced on its official website the appointment of Matthew Walsh, former Executive Vice President and Chief Financial Officer of Allergan, as its Chief Financial Officer; and Rachel Stahler, former Chief Information Officer of Allergan, as its Chief Information Officer.