Blueprint
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For
period ending 07 August
2018
GlaxoSmithKline plc
(Name
of registrant)
980 Great West Road, Brentford, Middlesex, TW8 9GS
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or
will
file annual reports under cover Form 20-F or Form 40-F
Form
20-F x Form 40-F
--
Indicate
by check mark whether the registrant by furnishing the
information
contained in this Form is also thereby furnishing the
information
to the Commission pursuant to Rule 12g3-2(b) under the
Securities
Exchange Act of 1934.
Yes
No x
GlaxoSmithKline plc (the "Company")
Iain Mackay appointed GSK Chief Financial Officer
GlaxoSmithKline
plc today announces that Iain Mackay has been appointed GSK's next
Chief Financial Officer (CFO). He has also been appointed as an
Executive Director to the GSK Board. Mr Mackay will join the
company on 14 January 2019.
Mr
Mackay joins GSK from the global bank HSBC, where he has been Group
Finance Director for the last 8 years. GSK announced in May that
the Company's CFO, Simon Dingemans, is to retire from the Company
in May 2019.
A
chartered accountant, Mr Mackay has worked in Asia, the US and
Europe and before HSBC was at General Electric, Schlumberger Dowell
and Price Waterhouse. He is a trustee of the British Heart
Foundation and a member of the Court of the University of
Aberdeen.
Emma
Walmsley, Chief Executive Officer, GSK said: "I'm delighted to
welcome Iain to GSK. As a proven CFO of a complex, regulated global
organisation, he brings tremendous finance experience and will be a
great addition to the team. He is a strong leader with a track
record of driving cost, cash and capital allocation discipline to
deliver strategy. These capabilities will be vital as we continue
to implement our Innovation, Performance and Trust priorities for
the benefit of patients and shareholders."
Philip
Hampton, Chairman, GSK said: "On behalf of the Board I welcome Iain
to GSK. His experience in different sectors and in complex,
regulated environments will be valuable to the Board and I look
forward to his contributions."
Simon
Dingemans will continue to be accountable as CFO for GSK's
financial governance through March 2019. There will be a transition
period from 14 January when Mr Mackay is CFO Designate, with him
taking formal accountability as CFO from 1 April. Mr Mackay will
join the Corporate Executive Team and the Board from 14
January.
V A Whyte
Company Secretary
7 August 2018
GSK - one of
the world's leading research-based pharmaceutical and healthcare
companies - is committed to improving the quality of human life by
enabling people to do more, feel better and live longer. For
further information please visit www.gsk.com.
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GSK enquiries:
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Simon
Steel
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+44 (0)
20 8047 5502
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(London)
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Tim
Foley
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+44 (0)
20 8047 5502
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(London)
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US
Media enquiries:
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Sarah
Spencer
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+1 215
751 3335
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(Philadelphia)
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Mary
Anne Rhyne
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+1 919 483 0492
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(North Carolina)
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Analyst/Investor
enquiries:
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Sarah
Elton-Farr
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+44 (0)
20 8047 5194
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(London)
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Danielle
Smith
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+44 (0)
20 8047 2406
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(London)
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James
Dodwell
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+44 (0)
20 8047 2406
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(London)
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Jeff
McLaughlin
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+1 215
751 7002
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(Philadelphia)
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Notes
1. Remuneration
The
Remuneration Committee sought to agree a package that enabled the
Company to recruit a very experienced CFO from the UK marketplace
within the Company's current shareholder approved remuneration
policy. It considers the package is appropriate for the Company and
its shareholders.
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£
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Notes
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Base salary
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£850,000
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The
comparator group for pay for the CFO role is the UK cross industry
comparator group.
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Annual bonus
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£850,000
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The
on-target bonus would be 100% with a maximum of 200% as for the
existing CFO.
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Award of LTIs
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£1,700,000
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This
assumes an expected value of 50% of an award of performance shares
under the Company's 2017 Performance Share Plan at a 4x multiple of
base salary as for the current CFO
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Share Ownership Requirement (SOR)
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300% of
base salary
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This is
in line with GSK's shareholder approved executive remuneration
policy approved earlier in 2017.
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Benefits and pension
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Benefits
and pension will be in line with our policy and arrangements for
other senior executives based in the UK.
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Mr Mackay's contract of employment will be available for inspection
at the Company's registered office and on the Company's
website, www.gsk.com
by 14 January
2019.
2. Shareholding
information
Mr
Mackay does not hold any shares in the Company.
3. Regulatory
disclosure
The
Company confirms that, in respect of Listing Rule 9.6.13R(1),
Mr Mackay is currently an executive director of HSBC Holdings plc.
This directorship will cease before he commences his employment
with GSK. There are no details to disclose in respect of
Listing Rule 9.6.13R(2)-(6).
4. Board composition
With
effect from 14 January 2019, the composition of the Board of GSK
will be as follows:
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Sir
Philip
Hampton
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Non-Executive
Chairman
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Ms Emma
Walmsley
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Chief
Executive Officer
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Mr
Simon Dingemans
Mr Iain
Mackay
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Chief
Financial Officer
Chief
Financial Officer Designate
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Dr Hal
Barron
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Chief
Scientific Officer & President, R&D
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Mr
Vindi Banga
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Senior
Independent Non-Executive Director
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Dr
Vivienne Cox
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Independent
Non-Executive Director
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Ms Lynn
Elsenhans
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Independent
Non-Executive Director
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Dr
Laurie Glimcher
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Independent
Non-Executive Director
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Dr
Jesse Goodman
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Independent
Non-Executive Director
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Ms Judy
Lewent
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Independent
Non-Executive Director
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Mr Urs
Rohner
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Independent
Non-Executive Director
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Biographical details for each Board member can be found on the
Company's website, www.gsk.com.
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Cautionary statement regarding forward-looking
statements
GSK
cautions investors that any forward-looking statements or
projections made by GSK, including those made in this announcement,
are subject to risks and uncertainties that may cause actual
results to differ materially from those projected. Such factors
include, but are not limited to, those described under Item 3.D
'Risk factors' in the company's Annual Report on Form 20-F for
2017.
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Registered in England & Wales:
No.
3888792
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Registered Office:
980
Great West Road
Brentford,
Middlesex
TW8
9GS
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorised.
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GlaxoSmithKline plc
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(Registrant)
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Date: 07
August, 2018
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By: VICTORIA
WHYTE
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Victoria Whyte
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Authorised
Signatory for and on
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behalf
of GlaxoSmithKline plc
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