GSK announces Board changes

Issued: London, UK – LSE Announcement

GSK today announced the creation of a new Board committee and a number of changes to the membership of the Board and its committees, which will all take effect from 1 January 2017.

A new Board committee, the Science Committee, is to be established in order to provide oversight of, and expertise to the Board in relation to, GSK’s R&D pipeline and scientific research strategy. It will be chaired by Non-Executive Director, Dr Jesse Goodman, the former Chief Scientist for the US FDA. Other members will include Sir Roy Anderson, who is Professor of Infectious Disease at Imperial College, London, Judy Lewent, former CFO of Merck & Co, and a further scientific and medical expert Non-Executive Director who is to be recruited. In light of this new committee and to ensure effective continuity, Professor Sir Roy, who joined the Board in 2007, has agreed to seek re-election at the 2017 AGM for a further year.

As previously announced, CEO Designate, Emma Walmsley, will join the Board as an Executive Director on 1 January 2017.

In addition, Patrick Vallance, President, R&D, will also join the Board as an Executive Director on 1 January 2017.

After nearly 6 years as a Non-Executive Director, Stacey Cartwright has informed the Company of her intention to step down from the Board on 31 December 2016. The Board wishes to acknowledge and thank Stacey for her service.

Dr Vivienne Cox and Urs Rohner will join additional Board Committees from 1 January 2017. Dr Cox will join the Remuneration Committee, in addition to her membership of the Corporate Responsibility Committee. Urs Rohner will join the Nominations Committee, in addition to his role as Chairman of the Remuneration Committee.

Victoria Whyte
Company Secretary

 

Notes to editors:

  1. With effect from 1 January 2017, the composition of the Board of GSK will be as follows:

Sir Philip Hampton     

Non-Executive Chairman

Sir Andrew Witty

Chief Executive Officer

Ms Emma Walmsley

Chief Executive Officer Designate

Mr Simon Dingemans

Chief Financial Officer

Dr Moncef Slaoui

Chairman, Global Vaccines

Dr Patrick Vallance

President, R&D

Professor Sir Roy Anderson

Independent Non-Executive Director

Mr Vindi Banga

Senior Independent Non-Executive Director

Dr Vivienne Cox

Independent Non-Executive Director

Ms Lynn Elsenhans

Independent Non-Executive Director

Dr Jesse Goodman

Independent Non-Executive Director

Ms Judy Lewent

Independent Non-Executive Director

Mr Urs Rohner

Independent Non-Executive Director

As previously announced, Sir Andrew Witty and Dr Moncef Slaoui will step down from the Board on 31 March 2017.  From 1 April 2017 until his retirement on 30 June 2017, Dr Slaoui will serve as an advisor to both GSK and the Board.

Biographical details for each Board member can also be found on the Company’s website, www.gsk.com.

Emma Walmsley’s base salary as CEO Designate is £850,000.  Patrick Vallance’s base salary as President, R&D is £780,000.  The Remuneration Committee is currently consulting with shareholders in respect of the renewal of GSK’s executive remuneration policy which will include the full details of GSK’s executive directors’ remuneration arrangements.  An update will be provided in due course as this process concludes.

Ms Walmsley’s and Dr Vallance’s contracts of employment will be available for inspection at the Company’s registered office and on the Company’s website, www.gsk.com by1 January 2017.

Dr Vallance has an interest in excess of 290,000 GSK ordinary shares.  There is no information to report under LR9.6.13 in respect of Dr Vallance.

The terms of reference for the Science Committee are available on the Company’s website in the Governance section, together with the terms of reference for the Board’s other committees.

As Chairman of the Science Committee, Dr Goodman will receive a supplemental fee of £20,000.

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.