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BREAKING NEWS

GSK names HSBC's Symonds as non-exec chairman

GSK names HSBC's Symonds as non-exec chairman
FILE PHOTO: The GlaxoSmithKline (GSK) logo on top of GSK Asia House in Singapore, March 21, 2018. REUTERS/Loriene Perera -
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Loriene Perera(Reuters)
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(Reuters) – Drugmaker GlaxoSmithKline <GSK.L> has appointed HSBC’s <HSBA.L> Jonathan Symonds to succeed Philip Hampton as non-executive chairman from Sept. 1.

GSK has been on the hunt for a new chairman since its January announcement that Hampton would step down after more than three and a half years in the role.

HSBC’s Symonds has formerly been finance chief at GSK rivals Novartis <NOVN.S> and AstraZeneca <AZN.L>.

“Jon has exceptional experience in life sciences and in the financial management and governance of major, global companies,” said GSK director Vindi Banga.

HSBC separately said that Symonds would stay on as an independent non-executive director with the banking group until February 2020.

Shares in GSK were down 1% at 0912 GMT, with HSBC also in the red with a 1.8% decline.

GSK reports second-quarter results later on Wednesday.

(Reporting by Pushkala Aripaka and Noor Zainab Hussain in Bengaluru; Editing by David Goodman)

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