BRIEF—Iain Mackay named GSK chief financial officer

GlaxoSmithKline (LSE: GSK) today announced that Iain Mackay has been appointed its next chief financial officer (CFO).

He has also been appointed as an executive director to the GSK board and will join the company on January 14, 2019.

Mr Mackay joins GSK from the global bank HSBC, where he has been group finance director for the last 8 years

GSK announced in May that the company’s CFO, Simon Dingemans, is to retire in May 2019.

A chartered accountant, Mr Mackay has worked in Asia, the USA and Europe and before HSBC was at General Electric, Schlumberger Dowell and Price Waterhouse. He is a trustee of the British Heart Foundation and a member of the Court of the University of Aberdeen.

GSK chief executive Emma Walmsley said: “I’m delighted to welcome Iain to GSK. As a proven CFO of a complex, regulated global organisation, he brings tremendous finance experience and will be a great addition to the team. He is a strong leader with a track record of driving cost, cash and capital allocation discipline to deliver strategy. These capabilities will be vital as we continue to implement our Innovation, Performance and Trust priorities for the benefit of patients and shareholders.”

Simon Dingemans will continue to be accountable as CFO for GSK’s financial governance through March 2019.

There will be a transition period from January 14, when Mr Mackay is CFO designate, with him taking formal accountability as CFO from April 1.

Mr Mackay will join the corporate executive team and the board from January 14.