17th Mar 2016 07:06
LONDON (Alliance News) - Drugmaker GlaxoSmithKline PLC on Thursday said Chief Executive Andrew Witty will retire from his role in March 2017.
The FTSE 100-listed group said a formal search for his successor will now begin, with internal and external candidates to be considered.
"GSK is a very special company with an inspiring mission and many dedicated people. By next year, I will have been CEO for nearly ten years and I believe this will be the right time for a new leader to take over," Witty said.
"Andrew's retirement next year will represent the culmination of 32 years of service and leadership to GSK and the industry. We will thank Andrew more formally for his tremendous dedication and contribution next year," said Glaxo Chairman Philip Hampton.
"In the meantime, we will now start a formal process to appoint his successor, whilst also ensuring the group remains focussed on execution of its strategy to drive growth and performance," Hampton added.
By Sam Unsted; [email protected]; @SamUAtAlliance
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