GlaxoSmithKline Chairman Philip Hampton to Step Down -- Update
January 21 2019 - 5:57AM
Dow Jones News
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By Adria Calatayud and Carlo Martuscelli
GlaxoSmithKline PLC (GSK.LN) said Monday that Chairman Philip
Hampton intends to step down after nearly four years in the
role.
The board of the pharmaceutical company has started the process
to find a successor, it said.
"Following the announcement of our deal with Pfizer and the
intended separation of the new consumer business, I believe this is
the right moment to step down and allow a new Chair to oversee this
process through to its conclusion over the next few years and to
lead the board into this next phase for GSK," Mr. Hampton said.
Mr. Hampton joined GlaxoSmithKline from Royal Bank of Scotland
Group PLC (RBS.LN) in 2015, where he served in the same role. He
leaves GlaxoSmithKline after a period of aggressive deal making for
the FTSE 100-listed company. The business--which previously
operated in the broader health-care space--is pursuing a narrowed
focus on pharmaceuticals and vaccines.
In December Glaxo sold its malted-milk drink brand Horlicks to
Unilever PLC (UNLV.LN) and said it would buy cancer-focused drug
company Tesaro Inc. (TSRO) for about $4.16 billion.
Later in the month, the company said it would separate its
consumer health-care unit to create a joint venture with Pfizer
Inc. (PFE), with the aim of eventually spinning it off.
Write to Adria Calatayud at adria.calatayudvaello@dowjones.com
and Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
January 21, 2019 05:42 ET (10:42 GMT)
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