GSK Chair to Step Down on Split

  • GSK Chair to Step Down on Split (c) GSKGSK Chair to Step Down on Split (c) GSK

Philip Hampton, chairman of GlaxoSmithKline plans to step down after the UK’s biggest drugmaker prepares to split its business into two businesses – one for prescription drugs and vaccines, the other for over-the-counter products.

GSK's Chief Executive Emma Walmsley announced in December 2018 that GSK and Pfizer in an all-equity transaction would bundle their respective consumer health businesses into a joint venture with sales of £8 billion. The jv would be owned to 68% by GSK.

Hampton, who took on the GSK chairman’s role just after a profit warning in 2014, said in a statement he believes “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”.  

According to reports the 65-year old earns an annual salary of £70000 a quarter of which is paid in company shares. He took the top job in 2014, just as GSK issued a profit warning, and was tasked with helping steer the company back to sustainable growth.

GSK said it has started the search for a successor.

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