LONDON--GlaxoSmithKline PLC (GSK.LN) will name the current chairman of Royal Bank of Scotland PLC (RBS.LN), Philip Hampton, as its next chairman, Sky News reported on Wednesday.

The FTSE100-listed pharmaceutical company will appoint Mr. Hampton as chairman-designate before the weekend, the broadcaster said.

Mr. Hampton is expected to join Glaxo's board as a non-executive director around the turn of the year, before taking over from Christopher Gent as chairman sometime after the U.K.'s general election in May, Sky News reported.

"Succession planning for the chairman is well underway," a Glaxo spokesman told Sky News.

Glaxo shares were little changed around 1420 GMT at 1421 pence. Royal Bank of Scotland shares were trading 0.14% higher at 358 pence.

Write to Tapan Panchal at tapan.panchal@wsj.com

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