Musical chairs at GSK leaves Stout out

You can take your $4 million and keep it. David Stout (photo), GlaxoSmithKline's president of pharmaceutical operations, evidently wants no part of the reported $4 million incentive package he was offered after being passed up for the top job. The company reported this morning that he's on the way out, while another frustrated candidate, Chris Viehbacher (photo), president of U.S. pharmaceuticals, joins the board. No word yet on where Stout may land. Andrew Witty (photo), new chief, also took his place on the board. And Eddie Gray, currently senior vice president and general manager pharmaceuticals UK, will succeed Witty as president, pharmaceuticals Europe.

- check out the release on the executive moves

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