SHOCK RESIGNATION OF GLAXO'S ERNEST MARIO

Ernest Mario has resigned from the board of Glaxo and from his position as chief executive and deputy chairman. The resignation announcement came in the midst of problems regarding the marketing of Glaxo's leading product, the antiulcerant Zantac (rantidine), in the USA.

The announcement, issued without warning, was included in the middle of a Glaxo press release detailing a board reorganization in which Richard Sykes, previously group research development director, becomes group chief executive and deputy chairman.

A new post has also been created to support Dr Sykes. Franz Humer, who was previously group director for commercial policy, becomes chief operating director. He will have responsibility for all Glaxo operating companies with the exception of the USA which reports direct to Dr Sykes. Also, a non-executive appointment has been made. Sir John Cuckney becomes non-executive vice chairman. He was previously a non-executive director.