By Ian Walker
LONDON--GlaxoSmithKline PLC (GSK.LN) confirmed Thursday Philip
Hampton will become chairman, replacing Christopher Gent on Sept.
1, 2015.
The pharmaceuticals giant said Mr. Hampton, currently chairman
of Royal Bank of Scotland Group PLC (RBS.LN), will join the company
on Jan. 1 as non-executive director, become deputy chairman on
April 1, 2015 and then non-executive chairman on Sept. 1.
He will be paid 85,000 pounds ($138,890) a year as non-executive
director, GBP350,000 when he becomes deputy chairman, and
GBP700,000 on his appointment as chairman. His salary will be paid
in cash and shares.
Separately, the 80% government-owned bank confirmed that Mr.
Hampton will leave "after a suitable successor is appointed."
"Sir Philip has served as chairman since February 2009 and his
departure will be in line with his longstanding intention to serve
in the role for between five and seven years," the bank said.
-Write to Ian Walker at ian.walker@wsj.com
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