GlaxoSmithKline PLC - Chairman succession process
Sir Philip was appointed to the Board on 1st January 2015. He was appointed as Deputy Chairman from 1st April 2015 and as Chairman from 7th May 2015.
Sir Philip said: "It is a privilege to serve as Chairman of GSK. It is one of the UK's great companies and under Emma Walmsley's leadership, GSK has made very good progress with a new strategy and new approach to R&D. Following the announcement of our deal with Pfizer and the intended separation of the new consumer business, I believe 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 and to lead the Board into this next phase for GSK."
Vindi Banga, GSK's Senior Independent Director, said: "The Group has a clear strategy, is delivering improved operating performance and has a clear pathway forward, this is a good time to start the process to find Philip's successor."
GSK is a science-led global healthcare company with a special purpose: to help people do more, feel better, live longer. For further information please visit www.gsk.com.