After serving as chairman for more than three and a half years at GlaxoSmithKline Plc, Philip Hampton is resigning from his post.
The news comes a month after the announcement from GSK’s Chief Executive Emma Walmsley that the company will be split into two businesses — one for prescription drugs and vaccines, the other for over-the-counter products.
In December, it was announced that GSK and Pfizer would combine their consumer health businesses in an all-equity deal. GSK will own 68 percent of the joint venture. Estimated sales of the combined entity are 9.8 billion pounds ($12.7 billion).
“Following the announcement of our deal with Pfizer and the intended separation of the new consumer business, I believe this is the right moment to step down and allow a new Chair to oversee this process through to its conclusion over the next few years,” Hampton said in a statement.
Hampton had joined GSK at a time when the company was struggling with weak sales of its core respiratory drugs.
GSK said that it had started looking for a successor.