Bavarian Nordic’s announcement that Paul Chaplin will step down as CEO has marked the latest high-profile change at a pharmaceutical company in 2026.
Chaplin, who has been at the helm of the Danish vaccine specialist since 2014, is leaving for personal reasons. Over his tenure, he has overseen Bavarian’s development from a small research-based company to a publicly listed vaccine manufacturer with approved products in multiple regions.
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Chaplin will continue to serve as CEO for the remainder of 2026, unless a successor is identified earlier. The company’s board is currently initiating a search for a new CEO.
The outgoing exec said in a statement: “We have achieved a lot and created a strong foundation for the future of the company. My family wants to relocate back to Australia, but I remain fully committed to the company for the remainder of the year to allow for a stable transition to its next CEO.”
The departure of Chaplin marks the latest in a recent shakeup at pharmaceutical companies. Doug Ingram revealed last month that he will leave rare disease biopharma Sarepta. After a decade overseeing the development of therapies for Duchenne muscular dystrophy (DMD) as CEO, Ingram said he would retire for personal reasons.
Speaking in an investor call on 25 February, Ingram said: “In a shocking and certainly ironic twist of fate, my personal commitment to muscular dystrophy deepened, as two members of my immediate family have been diagnosed now with myotonic dystrophy, DM1.
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By GlobalData“By the end of 2026, the time will have come for me to spend more time in California focusing on family commitments and addressing the realities of DM1.”
Ingram’s successor will have a far from easy task on their hands. Sarepta has endured a tumultuous past year amid safety and regulatory issues for its DMD gene therapy Elevidys (delandistrogene moxeparvovec). Like Bavarian Nordic, Sarepta has begun a search for a new CEO, and Ingram will stay on until either the end of 2026 or once his replacement is found.
Earlier in February, Sanofi announced it would not be renewing CEO Paul Hudson’s contract. Since February 2025, Paris-listed Sanofi, which is reliant on its expansive vaccine portfolio for a proportion of its revenue, has seen its share price slump by more than 20%. The leadership change at Sanofi brings a close to a six-year tenure under Hudson.
Outgoing Merck KGaA CEO Belén Garijo is set take the helm at Sanofi from 29 April. Garijo has been CEO at Merck KGaA since 2021 – at the time she became the first woman to lead a major German blue-chip company. Despite Garijo remaining in a top role, female representation in CEO roles at big pharma companies is limited.
At the start of the year, Luke Miels became the new CEO of GSK after Emma Walmsley formally left her position as the company’s leader. Walmsley, who announced she would step down in September 2025, was recognised as the first-ever female CEO of a major pharma company when she joined the British drugmaker in April 2017.
Sanofi’s abrupt pivot resembles the one made by Novo Nordisk in mid-2025, which parted ways with long-time CEO Lars Fruergaard Jørgensen amid declining financial performance. Maziar Mike Doustdar took over the role of Novo Nordisk CEO in August 2025.
