GlaxoSmithKline, which is about to undertake a radical shake-up, on Monday said its chairman Sir Philip Hampton will step down after just four years in the role.
No date was given for when the 65-year-old will leave, but the pharmaceuticals giant said the hunt for a successor has begun.
The update comes a month after the FTSE 100 drugsmaker unveiled a tie-up with rival Pfizer to create a £10 billion consumer health powerhouse. The deal will leave GSK with a standalone pharmaceuticals business, which boss Emma Walmsley is keen to strengthen.
Hampton said his departure will “allow a new chair to oversee this process through to its conclusion”.
As at November, he was at the halfway point of the government-backed Hampton-Alexander review, which aims to increase the number of women in senior positions in FTSE 350 companies by 2020.
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."
