Sir Andrew Witty to retire from GSK in March 2017

RNS Number : 3957S

GlaxoSmithKline PLC

17 March 2016

 

GlaxoSmithKline plc (the "Company")

Sir Andrew Witty to retire from GSK in March 2017

In the publication of its 2015 Annual Report to shareholders, GSK plc today announced that Sir Andrew Witty, CEO, has indicated to the Board his intention to retire from the company in early 2017. The Board has agreed that he will retire on 31st March 2017. The Board will now conduct a formal search for a successor and will consider internal and external candidates for the role.

Philip Hampton, Chairman, 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. 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."

Sir Andrew Witty, CEO said: "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. In making this decision it has been important to me that the Board have the time to conduct a full and proper process and that we sustain the momentum of our current business performance, capitalising on the very significant progress we made last year to strengthen the Group. By doing so we will strongly position GSK to achieve the medium-term outlook set out to investors last year and deliver a return to core earnings growth in 2016."

V A Whyte

Company Secretary

17 March 2016

GSK - one of the world's leading research-based pharmaceutical and healthcare companies - is committed to improving the quality of human life by enabling people to do more, feel better and live longer. For further information please visit www.gsk.com.

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Cautionary statement regarding forward-looking statements GSK cautions investors that any forward-looking statements or projections made by GSK, including those made in this announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Such factors include, but are not limited to, those described under Item 3.D 'Risk factors' in the company's Annual Report on Form 20-F for 2014.

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