Glaxo’s CEO Search Will Be ‘Relatively Expensive,’ Chairman Says
- Board focused on candidates in health-care sector: Hampton
- Company in advanced stages of recruiting one more director
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Finding a replacement for Chief Executive Officer Andrew Witty, who will retire in March after nearly a decade in the job, will be “relatively expensive,” GlaxoSmithKline Plc’s chairman said.
The U.K.’s biggest drugmaker has gotten “good value” from its executives, whose pay is at the low end of pharmaceutical industry peers, Chairman Philip Hampton said Thursday at the company’s annual general meeting in London, where Glaxo is based.