GSK CEO to Retire in March 2017

GlaxoSmithKline CEO Sir Andrew Witty will retire from the company on March 31, 2017, according to an announcement in the company’s 2015 annual report. The board of directors will conduct a formal search for a successor and will consider internal and external candidates for the role.

In addition, the company announced that Sir Deryck Maughan, Stephanie Burns, Daniel Podolsky, and Hans Wijers will not stand for re-election to the board at GSK’s annual general meeting on May 5, 2016.

Maughan has served as independent non-executive director on the board since 2004, and as the senior independent director from 2013. He is a member of the Audit & Risk, Nominations and Remuneration Committees. Burns has served as independent non-executive director for nine years and is a member of the Corporate Responsibility and Remuneration Committees. Podolsky has served as independent non-executive director and scientific and medical expert for nine years and is a member of the Audit & Risk and Corporate Responsibility Committees. Wijers has served as independent non-executive director for three years and is a member of the Corporate Responsibility and Remuneration Committees.

Sir Roy Anderson and Jesse Goodman have been appointed members of the Corporate Responsibility Committee with effect from May 1, 2016.

Sources:
GlaxoSmithKline Witty AnnouncementGlaxoSmithKline Board Changes