LONDON--GlaxoSmithKline PLC (GSK.LN) Tuesday said Moncef Slaoui, who is the chairman of the vaccines unit, will retire on June 30, 2017, after being almost 30 years with the company.

The bio-pharmaceutical company said Mr. Slaoui will stay as a member of the board until March 31, 2017 and that from April 1, 2017, until his retirement, he will serve as an advisor to both the company and the board.

Shares at 1000 GMT down 15 pence, or 1.1%, at 1401 pence valuing the company at 68.25 billion pounds ($97.27 billion).

Write to Olga Cotaga at olga.cotaga@wsj.com, Twitter @OlgaCotaga

(END) Dow Jones Newswires

June 14, 2016 06:21 ET (10:21 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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