Philip Hampton, Chairman of GlaxoSmithKline, is stepping down from the company only a month after the company announced a merger with Pfizer.
The pharmaceutical giant said on Monday that Mr Hampton, who was appointed non-executive chairman in 2015, has “informed the board of his intention to step down” and the search for his successor has begun. No date for Mr Hampton’s departure was given. Under terms of the all-share deal, Glaxo will own 68% of the consumer healthcare joint venture, while US firm Pfizer will own the remaining 32% stake.