GSK in search of CEO following retirement announcement

LONDON - Andrew Witty, GlaxoSmithKline CEO, will retire from GSK in early 2017, the company announced Thursday. 

 

GSK has implemented a formal search for a successor, who will assume the role March 31, 2017, and will consider internal and external candidates for the role.

 

“Andrew’s retirement next year will represent the culmination of 32 years of service and leadership to GSK and the industry," stated Philip Hampton, GSK chairman. "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.”

 

“GSK is a very special company with an inspiring mission and many dedicated people," Witty said. "By next year, I will have been CEO for nearly 10 years and I believe this will be the right time for a new leader to take over," he said. "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, capitalizing 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.”