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 08 November
2017
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")
Board change
GSK today announces that Dr Hal Barron has been appointed Chief
Scientific Officer and President, R&D, GSK. He has also been
appointed as an Executive Director to the GSK Board. Dr Barron will
assume his new role and join the Board on 1 January
2018.
Dr Barron is currently President R&D at Calico (California Life
Sciences LLC), an Alphabet-funded company that uses advanced
technologies to increase understanding of lifespan biology. Prior
to joining Calico, Dr Barron was Executive Vice President, Head of
Global Product Development, and Chief Medical Officer of Roche,
responsible for all the products in the combined portfolio of Roche
and Genentech. At Genentech, he was Senior Vice President
Development and Chief Medical Officer.
Emma Walmsley, CEO, GSK said:
"Scientific innovation must be at the heart of GSK and with the
appointment of Hal, we are bringing one of the world's foremost
R&D leaders to the company.
"Hal has exceptional experience and a strong track record of
developing significant new medicines from his time at Roche and
Genentech; whilst at Calico he has helped build a research
organisation that uses cutting-edge technologies in drug discovery
and development. He is also very well known for his integrity, for
being a clinician who is committed to always doing the best he can
for patients and for building exceptional teams.
"The fusion of science and technology is fast transforming
pharmaceuticals R&D. With Hal, we have a new R&D leader who
will drive the changes and choices we need to make to be successful
in this new environment, and as we look to build the next wave of
growth for the company."
Philip Hampton, Chairman, GSK, said: "We are delighted that Hal will be joining GSK
and look forward to welcoming him to the Board. He is a highly
respected clinician-scientist with a proven ability to generate
value for shareholders and his appointment reflects the Board's
commitment to investing in research and
development."
Dr Barron said, "I am
honoured to have been chosen for this important position especially
given the company's renewed focus on discovering and developing
transformational new medicines. GSK is a company with a rich
history of innovation, with many talented scientists who care
deeply about translating great science into therapies that make a
meaningful difference for patients. I believe there is a
significant opportunity to accelerate this effort and am looking
forward to joining Emma and the team on this mission."
During
his time at Genentech and Roche, Dr Barron oversaw the development
of Xolair (Asthma), Avastin (multiple tumour types), Tarceva (Lung
Cancer), Lucentis (AMD), Actemra (Rheumatology), Zelboraf and
Erivedge (Melanoma), Perjeta and Kadcyla (Breast Cancer), as well
as Gazyva (CLL). He has overseen pioneering work in oncology,
personalised medicine and has led teams across the USA, Europe and
Asia.
Prior to joining Genentech as a clinical scientist in 1996, Dr
Barron received his Bachelor of Science in physics from Washington
University in St. Louis, his medical degree from Yale University,
and completed his training in Cardiology and Internal Medicine at
the University of California San Francisco.
Dr Barron's academic positions include adjunct professor at the
University of California, San Francisco. He has been issued several
patents for his work in thrombosis and angiogenesis and has
published more than 90 papers in peer-reviewed scientific
journals.
Dr
Barron will be based in the US, while operating from offices in
both San Francisco and Stevenage in the UK. The new office presence
in San Francisco will be focused on business development for
R&D.
V A Whyte
Company Secretary
8
November 2017
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.
GSK enquiries:
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Global
Media 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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David
Daley
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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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Tom
Curry
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+ 1 215
751 5419
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(Philadelphia)
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Gary
Davies
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+44 (0)
20 8047 5503
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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 enables the
Company to recruit from amongst the top R&D talent in
the world within the Company's current shareholder approved
remuneration policy. It considers the package is right for the
Company and its shareholders.
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US$
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Notes
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Base salary
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$1,700,000
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The
comparator group for pay for the top R&D position is the global
pharmaceutical comparator group.
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Annual bonus
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$1,700,000
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The
on-target bonus would be 100% with a maximum of 200% as for the
existing President, R&D.
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Award of LTIs
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$4,250,000
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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 5x multiple of
base salary as for the existing President, R&D.
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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 US.
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Dr Barron'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 1 January
2018.
2.
Shareholding information
Dr
Barron does not hold any shares in the Company.
3.
Regulatory disclosure
The
Company confirms that, in respect of Listing Rules 9.6.13R(1), Dr
Barron is a Non executive Director of Juno Therapeutics Inc, a
company listed on NASDAQ, and that, in respect of Listing Rules
9.6.13R(2)-(6), there are no details to disclose.
4.
Board composition
With
effect from 1 January 2018, the composition of the Board of GSK
will be as follows:
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
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Chief
Financial Officer
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Dr Hal
Barron
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Chief
Scientific Officer & President, R&D
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Dr
Patrick Vallance
Professor
Sir Roy Anderson
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Former
President, R&D
Independent
Non-Executive Director
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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.
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
2016.
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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: November
08, 2017
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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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