LONDON, March 17 (Reuters) - GlaxoSmithKline saidits Chief Executive Andrew Witty would retire in 2017 havingheld the position since 2008, prompting the Britishpharmaceutical company to start looking for his successor.
Witty, a 31-year company veteran, has been under fire fromsome investors in the past three years as sales and profits haveflagged. His reputation was further tarnished by a damagingbribery scandal in China.
The CEO said it was important that the board had sufficienttime to conduct the search for his replacement.
"By doing so we will strongly position GSK to achieve themedium-term outlook set out to investors last year and deliver areturn to core earnings growth in 2016," Witty said in thecompany's statement on Thursday. (Reporting by Sarah Young; editing by Kate Holton)