Philip Hampton to step down as Glaxo CEO ahead of split

Bengaluru — GlaxoSmithKline chair Philip Hampton will step down after more than three-and-a-half years in the role, as Britain's biggest drug maker prepares to split its business into two. The announcement comes a month after Glaxo's CEO, Emma Walmsley, announced her boldest plans yet — to split the company into two businesses — one for prescription drugs and vaccines, the other for over-the-counter products. Walmsley, who took the helm in 2017, announced in December that Glaxo and Pfizer would combine their consumer health businesses in a joint venture with sales of £9.8bn, 68%-owned by the British company, in an all-equity transaction. "Following the announcement of our deal with Pfizer and the intended separation of the new consumer business, I believe this is the right moment to step down and allow a new chair to oversee this process through to its conclusion over the next few years," Hampton said in a statement. Hampton was paid a sum of £700,000, of which he elected to take 25...