Directorate Change

RNS Number : 5819S

GlaxoSmithKline PLC

25 September 2014

 



Issued: Thursday 25 September 2014, London UK - LSE Announcement

GlaxoSmithKline plc appoints Sir Philip Hampton to the Board of Directors

GIaxoSmithKline plc (GSK) today announced that Sir Philip Hampton will join the Board of the company as Non-Executive Director from 1 January 2015 and will become Deputy Chairman with effect from 1 April 2015. He will succeed Sir Christopher Gent as Non-Executive Chairman with effect from 1 September 2015, or at an earlier date if released from other commitments.

The appointment follows an extensive succession planning process undertaken by the Board over the last two years. The appointment of Sir Philip was recommended by the Board's Nominations Committee, chaired by Sir Deryck Maughan, GSK's Senior Independent Non-Executive Director.

Sir Deryck Maughan said: "We are delighted Sir Philip is joining the GSK Board to succeed Sir Christopher as Chairman.  GSK is well positioned for the future, with a strong R&D pipeline and the impending transformative asset transaction with Novartis announced in April.  Sir Philip's appointment provides a clear plan of succession and we welcome him to our Board."

Sir Philip has been Chairman of The Royal Bank of Scotland Group plc (RBS) since February 2009. He was previously Chairman of J Sainsbury plc and Group Finance Director at Lloyds TSB Group, BT Group plc, BG Group plc, British Gas and British Steel plc, an Executive Director of Lazards and a Non-Executive Director at RMC Group plc and Belgacom SA. He is also a former Chairman of UK Financial Investments Limited, which manages the UK Government's shareholdings in banks.

Sir Philip is Senior Independent Director of Anglo American plc, Chairman of their Remuneration Committee and member of their Audit Committee.

He will leave RBS in 2015.

Victoria Whyte

Company Secretary

25 September 2014

Notes

1.   The appointment of Sir Philip Hampton has been made by the Board on the recommendation of the Nominations Committee which was chaired by Sir Deryck Maughan, GSK's Senior Independent Non-Executive Director. The committee comprises a majority of independent Non-Executive Directors.  The executive search process commenced in 2012.

2.   Sir Philip will receive total fees of £85,000 per annum as a Non-Executive Director of which he will receive £63,750 as cash together with GSK Ordinary Shares of £21,250. When he takes on the role of Deputy Chairman he will receive £350,000 per annum, comprising £262,500 in cash together with GSK Ordinary Shares to the value of £87,500.  On his appointment as Chairman, from 1 September 2015, he will receive total fees of £700,000 per annum comprising £525,000 in cash together with GSK Ordinary Shares to the value of £175,000.

3.   Sir Philip does not have a service contract.  He has a letter of appointment which may be viewed by contacting the Company Secretary at the Company's registered office.

4.   Once he becomes Chairman, he will be based at GSK's registered office at 980 Great West Road, Brentford, Middlesex, TW8 9GS.

5.   The Board has determined that Sir Philip is an independent Non-Executive Director on appointment in accordance with the UK Code on Corporate Governance.

6.   With effect from 1 January 2015, the composition of the Board of GSK will be as follows:

Sir Christopher Gent             Non-Executive Chairman

Sir Deryck Maughan             Senior Independent Non-Executive Director

Sir Philip Hampton                           Non-Executive Director and Chairman Designate

Sir Andrew Witty                              Chief Executive Officer

Simon Dingemans                            Chief Financial Officer

Dr Moncef Slaoui                             Executive Director, Chairman, Global R&D and Vaccines

Professor Sir Roy Anderson              Independent Non-Executive Director

Dr Stephanie Burns                          Independent Non-Executive Director

Stacey Cartwright                            Independent Non-Executive Director

Tom de Swaan                                 Independent Non-Executive Director

Lynn Elsenhans                               Independent Non-Executive Director

Judy Lewent                                    Independent Non-Executive Director

Dr Daniel Podolsky                          Independent Non-Executive Director

Jing Ulrich                                       Independent Non-Executive Director

Hans Wijers                                    Independent Non-Executive Director

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.

GSK enquiries:
UK Media enquiries:	David Mawdsley	[phone]	(London)
	Simon Steel	[phone]	(London)
US Media enquiries:	Stephen Rea	[phone]	(Philadelphia)
	Sarah Alspach	[phone]	(Washington)
Analyst/Investor enquiries:	Ziba Shamsi	[phone]	(London)
	Tom Curry	+ 1 215 751 5419	(Philadelphia)
	Gary Davies	[phone]	(London)
	James Dodwell	[phone]	(London)
	Jeff McLaughlin	[phone]	(Philadelphia)

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 2013.

Registered in England & Wales: No. 3888792

Registered Office: 980 Great West Road Brentford, Middlesex TW8 9GS

 

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