PARIS (Reuters) – The appointment of Societe Generale (OTC:)’s boss Frederic Oudea as non-executive chairman of Sanofi (NASDAQ:) will be proposed at the next shareholders meeting of the French drugs group, Sanofi said on Monday.

Sanofi made the announcement in a statement appointing Oudea as “Censeur” (non-voting member) of the board with immediate effect.

“The appointment of Frederic Oudea as a director will be submitted for approval at the next Annual General Meeting,” the ststement said.

“Following this shareholders’ meeting, a proposal will be made to the board of directors of Sanofi to appoint Frederic Oudea as non-executive chairman of the board, replacing Serge Weinberg whose term of office will have expired, it said.

Oudea said in May he will leave his position as CEO and director of Societe Generale in May 2023.