Last week, the buzz about GlaxoSmithKline's CEO-presumptive Andrew Witty [1]included worries that his internal competitors for the top slot would jump ship [2]. Now Glaxo may sweeten the pot for those also-rans--by putting them on the board of directors.
The move would benefit Glaxo two ways: One, it might induce David Stout and Chris Viehbacher--both experienced execs--to stick around. Two, it would increase the proportion of execs to non-execs on the board; now, only three of the 14 directors are company types.
Meanwhile, there's talk in the executive suite about other ways to retain the two men. More responsibility, perhaps. More money, too. But as nothing has been decided yet, Glaxo's only official word is "no comment."
- check out the Financial Times report [3]
Related Articles:
Just who is Glaxo's Andrew Witty? Report [4]
GSK taps Witty as next CEO. Report [5]
At GSK, a public race for the top spot. Report [2]
GSK chief shrugs off growing criticism. Report [6]
Riled investors look for big changes at GSK. Report [7]
Read more on: GSK [8]
Links:
[1] http://www.fiercebiotech.com/story/glaxosmithkline-ceo-andrew-witty/2007-10-08
[2] http://www.fiercebiotech.com/story/gsk-public-race-top-spot/2007-09-24
[3] http://www.ft.com/cms/s/0/04b76c0e-7aa3-11dc-9bee-0000779fd2ac.html
[4] http://www.fiercepharma.com/story/just-who-glaxos-andrew-witty/2007-10-09
[5] http://www.fiercepharma.com/story/gsk-taps-witty-next-ceo/2007-10-08
[6] http://www.fiercepharma.com/story/gsk-chief-shrugs-growing-criticism/2007-09-10
[7] http://www.fiercepharma.com/story/riled-investors-look-big-changes-gsk/2007-09-04
[8] http://www.fiercebiotech.com/tags/glaxosmithkline