PHILADELPHIA and LONDON, April 30 /PRNewswire-FirstCall/ -- GlaxoSmithKline (NYSE: GSK) today announced a number of changes to its Corporate Executive management team. In a message to employees, Andrew Witty, CEO designate, detailed new appointments and his new management team which will take effect on May 22nd when he assumes the role of Chief Executive Officer.
Outlining the context for these changes, Andrew Witty said: "It is clear that our industry is facing a rapidly changing environment. Demand for innovative medicines and healthcare products continues to grow, however we are also presented with increasing challenges, such as cost containment, regulatory pressures and generic competition."
To address these challenges, Witty stated that the company must work hard to increase GSK's global reach and presence, and ensure that vaccines, consumer healthcare and pharmaceuticals all play their full potential. He emphasized the need for GSK's business regions to drive sales growth, and announced new operational structures to expand and improve GSK's capability, particularly in emerging markets and in Asia.
"Emerging markets, such as Brazil, Russia, India, China and the Middle East, are significant growth drivers of the future. They are already contributing close to 25% of today's market growth and are forecast to grow even faster in the future, around triple the rate of western countries. It is essential that we have an operating structure that is dynamic and responsive to the opportunities in these markets," said Witty.
"I am therefore creating a new Emerging Markets region which will
ensure that we devote the focus required to build on our excellent
foundations in those markets and truly establish ourselves as a
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