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
SEVEN STONES

Seven Stones is a creative, independent healthcare communications agency of movers and thinkers. We've been doing health differently since 1991....

Latest intelligence

Why big pharma needs to be braver
The last few years have seen the pharmaceutical industry undergo a rapid metamorphosis in the face of unprecedented change, but communications are one area that still needs an injection of...
Leveraging Real-World Evidence for Cell and Gene Therapies
Regulators and reimbursement bodies are increasingly turning to real-world evidence (RWE) to understand the long-term value of drugs, in particular novel therapies. Here, Mariam Bibi, Senior Director, Global RWE at...
Food Allergy – Is avoidance the only option?
Following on from Allergy Awareness Week 2022, we’re continuing the discussion about food allergies and the experiences of those who live with them. In this blog, we discuss the current...