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George J. Morrow to Leave GlaxoSmithKline; David Stout to Lead US operations.

RESEARCH TRIANGLE PARK, N.C. and PHILADELPHIA, Pa., Jan. 5 /PRNewswire/ --

George J. Morrow, co-president of US pharmaceutical operations for GlaxoSmithKline (NYSE: GSK), will leave the company later this month to take a position with another company, GlaxoSmithKline announced today.

David Stout is currently serving as co-president of GlaxoSmithKline in the US with Morrow. He will assume overall responsibility for US operations. Stout, 46, formerly head of North American pharmaceutical operations for SmithKline Beecham, will begin the process of relocating his residence to North Carolina while maintaining offices in both Philadelphia and Research Triangle Park.

"We have a lot of talented people in both locations, and the company remains committed to each site," said Robert A. Ingram, GlaxoSmithKline chief operating officer and president of pharmaceutical operations. "The employees in both Philadelphia and RTP have built extremely strong US organizations, and the new company clearly wants to build on those strengths. We've said from the first merger announcement last year that we plan to maintain a significant presence in both sites, and George's decision doesn't change that commitment."

Ingram said that the GlaxoSmithKline community would be saddened to see Morrow leave, but that his colleagues would understand his decision to pursue a new opportunity. "Over the years George has earned a reputation as one of the most thoughtful and astute business minds in the pharmaceutical industry, but more than that, he's earned the genuine respect of everyone he's worked with," Ingram said. "While we're sorry to see him leave, we wish him continued success."

Stout brings to his new role over 20 years of experience in pharmaceutical sales and marketing. Before joining SmithKline Beecham, he was president of Schering Laboratories with responsibility for US pharmaceutical operations, worldwide manufacturing, planning and financial services.

"David knows this business from the laboratory to the pharmacy shelf, and every stage in between," Ingram said. "He's a superb motivator, with keen insights into patient needs and market demands. He has the full confidence of the executive team as he accepts this new assignment."

Morrow, 48, said that his decision to leave GlaxoSmithKline was difficult, but that he is eager to take on a new challenge.

"I'm sure that GlaxoSmithKline's future is bright," he said. "I've never worked with so many talented and committed people, both from the Glaxo Wellcome side and the SmithKline Beecham side. I'm confident that they will build the company into a leader in terms of both innovation and commercial success.

"In David Stout, the US company has a personable and decisive leader," Morrow added. "I've known David for several years, and after working with him over the last year to integrate these two companies, I'm more sure than ever he's the right person to lead the US business."

Morrow's resignation is effective January 19, at which time Stout will assume his new role.

GlaxoSmithKline, one of the world's leading research-based pharmaceutical and health care companies, is committed to improving the quality of human life by enabling people to do more, feel better and live longer.
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Publication:PR Newswire
Date:Jan 5, 2001
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