Speculation on UK drug major execs

With UK pharmaceutical majors GlaxoSmithKline and AstraZeneca both looking to replace senior executives, the press has started to speculate about outcomes, and the involvement of outsiders.

GSK has previously made clear that it is expecting one of three insiders - David Stout (president of global pharmaceutical operations), Chris Veihbacher (president of US pharmaceuticals) and Andrew Witty (president of European pharmaceuticals) to replace chief executive Jean-Pierre Garnier, who retires in May next year, and has given them various "tasks" to prove their leadership capabilities (Marketletters passim). However, the Wall Street Journal reports that GSK's chairman, Sir Christopher Gent, has now hired outside consultants to evaluate the candidates.

Meantime, the UK's Financial Times speculates that AstraZeneca, whose long-standing chief financial officer Jon Symonds quit to join Goldman Sachs (Marketletter June 11), is poised to appoint an outsider as CFO.