NEWS: Glaxo seeks UK communicator,

Glaxo Wellcome, the world’s biggest pharmaceutical company, is hunting for a UK-based investor relations director following last year’s pounds 9 billion merger.

Glaxo Wellcome, the world’s biggest pharmaceutical company, is hunting

for a UK-based investor relations director following last year’s pounds

9 billion merger.



The company has briefed management headhunters to produce a shortlist of

appropriate candidates for the job from either agency or in-house

backgrounds.



Based in London and reporting to Glaxo Wellcome’s finance director John

Coombe, the new investor relations director will be responsible for

communications with company shareholders around the world.



Geoffrey Potter, Glaxo Wellcome’s corporate communications director,

explained that the search was prompted by the retirement later this year

of Penney Burnett, the firm’s current investor relations director based

in the US.



Although Glaxo Wellcome will replace Burnett in the States, it is

understood that the new post holder there will report to the more senior

director based in London.



‘The objective is to find a seasoned investor relations professional as

soon as possible,’ said Potter. ‘It is a much bigger company now and the

majority of our shareholders are in the UK, so it seems an appropriate

time to replace the investor relations director in the UK.’



The new director will have to tackle one issue that has recently aroused

the concern of investors. Last week two of Glaxo Wellcome’s

institutional shareholders, Jupiter Asset Management and Gartmore,

protested to the company over its decision to reject Aztec, an anti-Aids

drug developed by a small American company with funding provided by

Glaxo Wellcome.



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