Viehbacher steps down at GSK, as speculators see him taking top job at Sanofi

Chris Viehbacher, executive director and president, North American Pharmaceuticals, at UK-headquartered drug giant GlaxoSmithKline, has decided to stand down from the board on September 8, and will leave the company with effect from December 1 to pursue another opportunity.

Mr Viehbacher was one of three internal contenders for the post of GSK chief executive, following the retirement of Jean-Pierre Garnier, a job that went to Andrew Witty in May (Marketletters passim). Also passed over was David Stout, who left GSK in February. Mr Viehbacher agreed to stay with the firm which, despite shareholder discontent, managed to push through a "retention package" worth some L2.5 million ($4.4 million) in shares, which he has to give up.

Meantime, it has been speculated in the press that Mr Viehbacher will be joining French drug major Sanofi-Aventis in a "top job." While neither GSK or Sanofi would comment, the press suggestion that he would be replacing Gerard Le Fur as CEO of the French firm would be a surprising decision, since he only acceded to the post on January 1, 2007, on the retirement of Jean-Francois Dehecq, whose choice he was, and the latter has remained as chairman of the group.