Please login to the form below

Not currently logged in
Email:
Password:

Former RBS head takes the reins as GSK chair

Philip Hampton comes in at a tumultuous time for the firm

Sir Philip HamptonSir Philip Hampton has become GlaxoSmithKline's new chairman as the company enters into a crucial year.

Sir Philip, formerly the chair of the Royal Bank of Scotland, replaces Sir Christopher Gent, who announced he would step down from the position last year.

Not averse to joining large firms during a period of disaster, Sir Philip took over as RBS chairman in 2009 following the bank's bailout during the financial crisis.

Sir Philip had to not only steer RBS through choppy financial waters there, but also deal with the fallout of its previous chief executive Fred Goodwin, who stepped down in early 2009, just as it was announced that the firm had lost £24bn for the previous year.

The UK's biggest drugmaker will certainly be hoping this level of experience can be applied by Sir Philip towards rebuilding GSK's reputation in China following the bribery scandal of the past year, and to develop new products in order to offset the decline of its best-selling asthma drug, Advair, as part of his new remit.

GSK would also have been attracted to Sir Philip's string of previous high profile appointments that comprise being chairman of Sainsbury's; finance director at Lloyds TSB; BT; British Gas and British Steel; an executive director of Lazards and a non-executive director at RMC and Belgacom.

He is also a former chairman of UK Financial Investments, which manages the UK government's shareholdings in banks.

This week Sir Philip backed GSK's under fire CEO Sir Andrew Witty, who has weathered a tough two years of scandals and continually falling sales.

He said: “[Sir] Andrew has the complete support of the board. There are always shareholders who have points to make, but I certainly hope Andrew is here for a good while to come.”

He added that there is no “hard and fast rule” about how long chief executives should serve.

Article by
Ben Adams

11th May 2015

From: Sales

Share

Tags

COVID-19 Updates and Daily News

Featured jobs

PMHub

Add my company
11 London

The biggest problems facing humanity today are health-related, and the health of people, animals and our planet are inextricably linked. ...

Latest intelligence

Numbers, navigation, and narratives: digital storytelling in medical communications
Science and storytelling aren’t often seen as compatible. One is based on cold, hard facts, while the other is synonymous with improvisation and theater. However, when done well, storytelling can...
Is this common data mistake killing your digital patient recruitment?
Without realising, you could be falling into the trap of using social data — insights into recent, relevant trends and topics — to inspire your content. Hold up. That sounds...
Dr Henry Skinner
The AMR Action Fund is combating antimicrobial resistance, but much more action is needed
By Henry Skinner, Chief Executive Officer of the AMR Action Fund...