LONDON (Alliance News) - FTSE 100-listed GlaxoSmithKline PLC said Tuesday it intends to appoint HSBC Holdings PLC Group Finance Director Iain Mackay to its board as chief financial officer.
Mackay will join the board as an executive director in mid-January, shortly after his December 31 departure from HSBC. He has been designated as future CFO of the drugmaker once the current CFO of Glaxo, Simon Dingemans, retires in May 2019.
"There will be a transition period from January 14 when Mackay is CFO designate, with him taking formal accountability as CFO from April 1. Mackay will join the corporate executive team and the board from January 14," Glaxo said in a statement.
Mackay will be succeeded at HSBC by Ewen Stevenson. Stevenson will assume the role on January 1 but will serve as a designate finance director from the start of December.
Shares in GSK were up 0.6% at 1,587.60 pence on Tuesday.
HSBC shares were up 1% at 715.30p.