GlaxoSmithKline has appointed Iain Mackay as its new Chief Financial Officer (CFO), marking another high-level appointment under new CEO Emma Walmsley. He joins from HSBC, where he has been Group Finance Director for the last 8 years.
Iain will join the company on 14 Janurary 2019 and will also be appointed as an Executive Director to the GSK Board. GSK announced in May that its current CFO, Simon Dingemans, is to retire in May 2019.
A chartered accountant, Iain 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.
GSK’s CEO Emma Walmsley 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.”
Since taking over as CEO in April last year, Walmsley has appointed Luke Miels as head of pharmaceuticals and Hal Barron as head of drug research, as well as finding a new head of digital operations in Karenann Terrell.
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 Iain is CFO Designate, with him taking formal accountability as CFO from 1 April.
By: George Underwood
Source: Pharmatimes
Sun Pharmaceutical Industries has signed a definitive agreement to buy all outstanding shares of Concert Pharmaceuticals in a deal valued at $576m. Under the deal, the company will buy all shares of Concert common stock through a tender offer for $8.00 per share in cash upfront payment.
The Food and Drug Administration on Thursday approved Novo Nordisk’s diabetes pill Rybelsus as an initial treatment to lower blood sugar levels, a label expansion that will allow it to compete more directly with other oral drugs from Merck & Co. and Eli Lilly.
Since making an ill-advised $63 billion buy of Monsanto in 2018, Bayer has faced heaps of pressure from investors that have called for the company to oust its leadership and to restructure. Now comes new pressure from a familiar source. Bluebell Capital Partners has bought an undisclosed stake in the company and is agitating for a breakup, sources told Reuters.
