In brief. How long does it take to recruit a healthcare CEO? In eight public cases completed between 2025 and 2026 (Sanofi, Novo Nordisk, BioNTech, Idorsia, Bavarian Nordic, Chiesi, Coloplast, Qiagen), between 8 and 361 days elapsed between the departure announcement, or the start of the interim period, and the successor taking office, with a median of 176 days—nearly six months. A ninth case, CSL, has been open for 244 days. These figures do not represent general market statistics: they describe publicly traded companies whose timelines are public. To select an executive search firm, eight questions are enough to evaluate the setup: the mandate, the team, industry knowledge, confidentiality, the assessment methodology, the timeline, guarantees, and onboarding support after taking office.

On February 11, 2026, the Sanofi Board of Directors decided not to renew Paul Hudson's mandate. On February 12, it announced this decision along with the name of his successor in the same press release: Belén Garijo, then CEO of Merck KGaA. She took office on April 29 following the Annual General Meeting, with Olivier Charmeil serving as interim CEO. Seventy-six days separated the announcement from the effective start date.

The day before that decision, on February 10, on the other side of the world, CSL announced the immediate departure of its CEO, Paul McKenzie, replaced on an interim basis by Gordon Naylor. As of October 12, according to the press releases and media reports we reviewed, no permanent successor has been appointed. The 2026 annual report indicates that the search is "well advanced."

On August 24, Qiagen announced that a new CEO would take office on September 1. Eight days.

These three timelines are completely different, and that is precisely what makes them valuable for any board, private equity fund, or chair. The duration of a succession is not an inevitable market fact: it is prepared before the search begins.

Key figures to know

Why this issue matters now

The 2026 calendar is unusually transparent. Sanofi, CSL, BioNTech, Idorsia, Bavarian Nordic, Chiesi, Coloplast, Qiagen, and Novo Nordisk have each changed or searched for a chief executive within an 18-month window, making their timelines public. For a board preparing a succession, this provides a rare set of benchmarks.

Three common misconceptions circulate.

A CEO search takes three months. This holds true for a few cases, but is false for the majority. In our sample, five out of eight searches exceeded 150 days between the departure announcement and the start date.

A search firm saves time because it knows everyone. A firm primarily reduces uncertainty: it prevents miscalibrated approaches, leaks, and candidacies misaligned with the requirement. The candidate's notice period, however, remains unchanged.

One can wait until the departure to start looking. The shortest processes are those where the successor was already identified at the time of the announcement. A succession that begins on the departure date has already lost weeks.

Nine cases, nine timelines

Notes: The timelines are drawn from company press releases. For Chiesi, the date used is the start of the interim period, as the departure announcement date was not found. For BioNTech, the start date reflects the announced deadline. The 176-day median applies to the eight completed cases: 8, 76, 83, 153, 199, 227, 328, and 361 days. The sample is limited, consisting solely of listed companies, and does not reflect unlisted businesses or private-equity-backed firms.

What drives timeline variations

Press releases do not explain why a search lasted three months or twelve. The dates, however, highlight four factors.

Was the successor identified at the time of the announcement? At Sanofi and Qiagen, the name accompanied the departure announcement. The remaining duration was a transition period, not a search.

What is the candidate's notice period? At BioNTech, the incoming CEO was serving at another listed company: six months separated the appointment announcement from the latest start date. At Sobi, his former company, the board launched the search for its own successor on the exact same day.

Who handles the interim period? It may be an executive committee member (Sanofi), the CFO retaining their current duties (Chiesi), the founder (Idorsia), a former executive turned board member (CSL), or the former board chair (Coloplast). Each option offers advantages and constraints, but none is neutral regarding the future leader's authority.

Is the mandate clearly defined in writing? This is the factor that dates cannot show, and in our view, the one that accounts for the most delays: executive searches take longer when the board has not decided what the leader must achieve.

Three approaches to recruiting a CEO

Executive search involves the direct approach of employed executives, conducted under a retained mandate and in complete confidentiality, as opposed to an open job posting. It does not replace the board's decision: it helps prepare and guide it.

How to choose an executive search firm for a healthcare leader: eight questions

These questions apply to any search firm, including ours.

1. Who will actually conduct the search? Ask for the name of the person who will interview candidates, their availability, and the proportion of their time dedicated to the mandate. The person pitching the assignment is not always the one delivering it.

2. What is their tangible industry expertise? Ask for examples of sector-specific challenges the team has addressed: regulatory timelines, biotech financing, market access, or post-acquisition integration. Steer clear of answers limited to a client list.

3. How do they handle confidentiality and conflicts of interest? The firm should be able to disclose which companies it cannot approach on your behalf and for how long, as well as how it protects the client's identity when approaching candidates.

4. How do they evaluate executives? The methodology should focus on past decisions and the decision-making process, rather than a generic questionnaire. Request an example of a written candidate assessment.

5. What timeline do they propose, and with which milestones? The schedule must include clear stages (mandate framing, candidate longlist, interviews, references, finalists) and highlight potential delays: notice periods, board availability, and confidentiality requirements.

6. What guarantees do they offer? Replacement guarantees if a candidate leaves within the first few months, duration of non-solicitation commitments, and fee terms: written agreements outweigh verbal promises.

7. What happens after the contract is signed? A new leader's first months often dictate the success of the hire. Inquire about how the firm remains involved during onboarding.

8. Do they help shape the mandate, or do they wait for instructions? The clearest indicator of a valuable search firm is that it asks probing questions about the business mission before discussing candidate profiles.

At Laroze Partners, this is how we operate. A Partner of the firm leads the assignment from initial framing to the presentation of finalists. Confidentiality is the cornerstone of our search work. We assess executive career trajectories using the Laroze Pattern®, our proprietary framework for strategically evaluating career paths, leadership behaviors, and performance dynamics. We act as a business partner to boards and shareholders, serving as an ambassador for the company to the executives we approach: how we present the opportunity reflects directly on our client. Every placement is backed by a guarantee covering the placed executive's entire probationary period.

What this requires from leadership functions

The specific case of private-equity-backed companies

For a private equity fund, succession delays represent a direct cost. AlixPartners' annual survey, published on March 25, 2026 across 427 executives, indicates that 65% of funds replaced a CEO during the investment lifecycle, and 83% of fund leaders believe that an unprepared transition extends the holding period. These numbers span across all sectors, not just healthcare.

In healthcare, constraints are twofold. The average duration of a funding round reaches ten months in French HealthTech, according to France Biotech. A six-month leadership vacuum at the top during a financing round or divestment process directly strains the exit timeline. Best practice involves planning the CEO's succession upon entry, not at exit.

Common pitfalls

Waiting for a departure to launch the search. The shortest processes occur when the successor is identified prior to the announcement. Succession planning must precede the departure date.

Confusing speed with quality. Eight days at Qiagen is not a universal blueprint: it required a transition prepared well in advance and an outgoing leader who remained in support through the end of the year.

Leaving interim leadership unstructured. An interim period exceeding six months requires clear structure: it demands a defined scope, a firm timeline, and an appointed search lead.

Selecting a firm based on brand reputation rather than the delivery team. A brand name does not interview candidates.

Overlooking the candidate's notice period. Between announcement and taking office, BioNTech faced up to 182 days. This duration must be factored into the overall succession schedule.

How to evaluate a healthcare CEO candidate

1. Which mandates have they successfully seen through to completion? Commercial launch, turnaround, fundraising, divestiture, integration: they must describe a tough decision and what it cost them.

2. How did they manage timelines beyond their control? Regulatory, financial, or political: the response reveals their ability to steer the course through uncertainty.

3. How do they describe their relationship with the board during a disagreement? They should provide a concrete example, detailing what they secured and what concessions they made.

4. What was the cost of their last leadership transition? An executive who has orchestrated a departure or an arrival knows what was lost along the way.

5. What would they prioritize during their first 100 days? The right answer depends on the strategic mandate. They must articulate which decisions they will make autonomously and when they will report back to the board.

Frequently asked questions

How long does it take to recruit a healthcare CEO?

Across eight public cases from 2025 and 2026, timelines ranged from 8 to 361 days between the departure announcement and the successor taking office, with a median of 176 days. A ninth case, CSL, has been ongoing for 244 days. These figures reflect publicly traded companies and do not represent a market-wide average.

How should one select an executive search firm for a healthcare leadership appointment?

Eight questions are essential: who conducts the search, what is their concrete sector knowledge, how confidentiality is managed, the assessment framework, the delivery timeline, the guarantees offered, the post-signature onboarding support, and whether the firm helps define the mandate. Demand these responses in writing.

What does a healthcare executive search firm actually do?

It helps the board formulate the mandate, confidentially approaches sitting executives, evaluates career trajectories, presents finalists, and facilitates negotiation. It does not decide: appointment authority resides solely with the board.

What is the role of a pharma executive search firm in France?

It steps in when the search targets sitting executives, often in publicly listed groups, and strict confidentiality is critical. In France, the most high-stakes mandates involve overseeing relations with public authorities, such as the position of General Manager France.

How much does an executive search firm cost for a C-level hire?

Fees are generally calculated as a percentage of the recruited executive's annual compensation and invoiced across multiple milestones. We have not identified reliable public fee benchmarks and prefer not to suggest arbitrary market-wide figures. Request the fee structure in writing, detailing billing stages, included services, and replacement guarantees. At Laroze Partners, our guarantee covers the placed executive's entire probationary period.

How should an interim CEO period be handled?

Define the scope and duration of the interim mandate in writing, designate an owner for the search process, and maintain momentum on ongoing strategic initiatives. At Sanofi, the interim lasted 71 days, from February 17 to April 29; at Coloplast, it lasted 361 days.

Key takeaways

• In eight public healthcare cases across 2025 and 2026, timelines spanned 8 to 361 days, with a median of 176 days.

• The shortest timelines occurred when the successor was already identified at the time of announcement.

• The candidate's notice period—up to 182 days in the case of BioNTech—must be factored into the succession timeline.

• A search firm should be evaluated using eight written questions: team, sector expertise, confidentiality, assessment, timeline, guarantees, onboarding, and mandate support.

• For private equity funds, an unprepared succession lengthens the holding period according to 83% of surveyed fund executives.

The Laroze Partners perspective

The timeline of a succession is determined before the search begins. The shortest cases in our sample were those where the board knew, on the day of the announcement, who would take over and under what terms. The longest were those where issues regarding the mandate, interim governance, or notice periods had to be addressed along the way. Searching for a CEO begins with defining what they must accomplish.

Laroze Partners is an executive search firm founded in 2025 by Thomas Rozier, following more than a decade in executive search. The firm advises boards, shareholders, and private equity funds on leadership recruitment, particularly in healthcare, pharmaceuticals, biotechnology, and medical devices. We begin with the strategic mission, conduct confidential approaches to sitting executives, and continue to serve as a business partner to our clients beyond onboarding, backed by a guarantee that covers the entire probationary period.

We pass no judgment on the companies mentioned, with which we have no internal involvement: we analyze what they have made public. A board that prepares its succession ahead of time secures time, choice, and credibility with its teams.

Sources

Sanofi, press release of February 12, 2026 (non-renewal of Paul Hudson's mandate, appointment of Belén Garijo, interim by Olivier Charmeil) · CSL, press release of February 10, 2026 and 2026 Annual Report (departure of Paul McKenzie, interim by Gordon Naylor, search "well advanced") · Qiagen, press release of August 24, 2026, via RTTNews · Novo Nordisk, press releases of May 16 and July 29, 2025, via STAT and PharmExec · Chiesi, press release of September 15, 2026 · Idorsia, via Bluewin (March 16, 2026) and RTTNews (July 1, 2026) · Bavarian Nordic, press releases of March 2 and September 17, 2026 · BioNTech, press releases of March 10 and August 3, 2026 · Coloplast, press releases of May 6, 2025 and March 4, 2026, via Inderes · AlixPartners, 11th Annual PE Leadership Survey, March 25, 2026 · France Biotech, French HealthTech Panorama 2026, February 19, 2026.

Thomas Rozier is the founder of Laroze Partners, an executive search firm established in 2025 following more than a decade in executive recruiting, dedicated to leadership hiring across healthcare, pharmaceuticals, biotechnology, and medical technology.