GSK eyes former Astrazeneca CFO for empty chair
Drugmaker Glaxosmithkline is set to announce the former finance boss of Astrazeneca as its new chair to oversee the breakup of the business.
GSK is preparing to appoint Jonathan Symonds as its new non-executive chair, Sky News reported earlier.
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The announcement is expected within weeks, sources told the broadcaster. Although negotiations are still ongoing.
It comes as the business is set to spin off its consumer healthcare business, merging it into a joint venture with Pfizer.
The move is expected in the second half of the year, creating a multi-billion dollar market leader.
The new venture will mainly grow in the US and China.
It splits GSK into two different businesses. One will focus on consumers, while the other includes pharmaceuticals and vaccines.
If confirmed for the role, Symonds would bring extensive City experience.
He served as chief financial officer for both Novartis and Astrazeneca, was a partner at Goldman Sachs and KPMG, and has sat on the boards of Diageo and Qinetiq. He has been deputy chair of HSBC Holdings since August last year.
GSK did not immediately respond to request for comment.
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A spokesperson told Sky: “GlaxoSmithKline plc announced in January 2019 that the board had started the process to find a successor to Sir Philip Hampton as non-executive chairman.
“An announcement of a new chairman will be made in due course.”