GlaxoSmithKline (GSK) has hired headhunters to search for a replacement for Sir Christopher Hogg, its chairman, adding further competition in the search for a new boss at Marks & Spencer.
The pharmaceuticals giant, which has a large manufacturing plant in Crawley, hopes to appoint a chairman-designate to the board later this year with a view to taking over the top post next year.
Sir Christopher, 67, is keen to retire on a high and hopes first to complete the task of improving GSK's fractious relations with shareholders over executive pay.
Marks & Spencer confirmed yesterday chairman Luc Vandevelde is to stand down. It followed concerns that he was spending too little time with the High Street retailer.
Tuesday May 11, 2004
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