A new Asia Pacific region will also be created, which includes Japan and Australia. Witty noted that many of these countries have sophisticated and well-organized healthcare systems and that these markets represent "significant and immediate opportunities" for existing products and products which will be launched over the next few years.
As part of the changes to business regions, GSK has also realigned markets in North America (combining the US, Canadian and Puerto Rican businesses) and has established new operational areas in Europe to maximize their potential and opportunities for growth.
Witty also placed emphasis on the development of GSK's business through partnership and collaboration, and announced a new dedicated team for Corporate Strategy and Development:
"Making the changes required to develop our business for the next decade requires a rigorous and disciplined focus on corporate strategy. A key element of this new team's remit will be to proactively seek new business opportunities to expand our global reach and drive sales growth," he said. Finally, Witty also spoke to measures to improve processes and ensure that the company works effectively and efficiently. He also placed great emphasis on the need to sustain and develop the strong ethical culture of GSK:
"Ultimately, our culture and our people will be the key factors in our
success. We need to ensure that we always do what is right for the patients
and I want GSK to meet the highest standards expected of us by society,"
GSK Corporate Executive Team (effective May 22nd 2008):
-- Andrew Witty, Chief Executive Officer*
-- Julian Heslop, Chief Financial Officer*
-- Moncef Slaoui, Chairman, Research & Development*
-- Chris Viehbacher, President, North American Pharmaceuticals*
-- Simon Bi
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