Glaxo Reportedly Set To Name Philip Hampton As Chairman

(RTTNews) - GlaxoSmithKline plc (GSK, GSK.L) is set to name Philip Hampton as its next chairman, the Wall Street Journal reported Wednesday, citing people familiar with the matter.

Hampton, currently chairman of Royal Bank of Scotland Group plc, will replace longtime Glaxo Chairman Christopher Gent.

However, the transition is not likely to take place until next year and Hampton will stay on at RBS for at least several months more, as the bank searches for a successor, the Journal quoted one person familiar with the matter as saying.

An announcement of the chairmanship transition is expected to come within the next two days, according to the Journal.

The expected announcement of the change was first reported by Sky News.

Hampton joined RBS in January 2009 soon after its £45.5 billion bailout by the U.K. government. Before that Hampton was the chair at supermarket group J Sainsbury plc.