GSK Gsk Plc

(Adds background)

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)

Copyright (c) 2019 Dow Jones & Company, Inc.