Shareholders Revolt Over GlaxoSmithKline's Plans To Shake Up Board; Investors Call For Speedy Departure Of Chairman Gent

Published: Sep 02, 2014

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GLAXO SMITH KLINE faces a shareholder revolt over plans to shake up its board, with leading investors calling for the speedy departure of chairman Sir Chris Gent.

Gent, a City hero for his spell as a buccaneering chief executive at Vodafone, has said he will stand down from Britain’s biggest drug company next year, with Sir Philip Hampton, chairman of Royal Bank of Scotland, the likely successor.

But several big institutions, riled by Glaxo’s poor share price performance and a growing catalogue of corruption claims, want a change this year.

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