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The battle to replace Jean-Pierre Garnier as chief executive of GlaxoSmithKline ended today when the world’s second-biggest drugs company announced that Andrew Witty would replace the Frenchman next May.
Mr Witty, 43 and president of Glaxo’s European pharmaceuticals business, beat off competition from Chris Viehbacher, the president of Glaxo’s US arm, and David Stout, the president of pharmaceuticals operations.
The three men have been competing openly for the job for two years.
Mr Garnier had already announced his intention to step down at the end of May after nearly eight years with the group.
Mr Garnier, who will be 60 this month, said today: “Andrew has made significant contributions to GSK and I am very pleased that he is to be our next chief executive.
“I look forward to working with him during our handover and wish him every success.”
Sir Christopher Gent, the GSK chairman, added: “Andrew’s appointment follows a rigorous selection process by the board of directors.
“The fact we have been able to select a successor to JP from three strong internal candidates is a testament to the quality of management we have at GSK.
“The board is confident that Andrew will build on JP’s considerable achievements which have positioned GSK as a leader of the pharmaceutical industry.”
Mr Witty, who joined Glaxo UK in 1985, will take over at a testing time for one of Britain's biggest businesses.
Despite annual sales of £20 billion and one of the strongest drug pipelines in the industry, Glaxo is coming under severe pressure to end the furore over Avandia, the group's diabetes medicine and second-biggest selling product.
The drug has been linked to a significantly increased risk of heart attack.
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