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GSK names Goldman Sachs exec as its next CFO

Simon Dingemans

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RESEARCH TRIANGLE PARK, N.C. – Drug giant GlaxoSmithKline (NYSE) is replacing its current chief financial officer with an executive from Goldman Sachs.

The company, which maintains its U.S. headquarters in RTP, said Wednesday that current CFO Julian Heslop will retire next March.

Replacing him will be Simon Dingemans, a managing director and partner at Goldman Sachs. Dingemans’ appointment as CFO designate is set for Jan. 4.

The move was one of three announced by GSK as it continues to reorganize. (Read about an R&D facility being sold and a new production agreement in the U.K. here.)

A finance executive with more than 25 years in investment banking, he has led European mergers and acquisitions in Europe and also led U.K. Investment Banking at Goldman Sachs.

Dingemans also has worked with GSK, helping the firm set up its ViiV Healthcare venture, which is focused on HIV.

“Our objective is to deliver long-term value to shareholders and, in a period of significant change for our sector, Simon’s appointment as CFO reflects the need for GSK to operate with both creativity and continued financial discipline,” said GSK CEO Andrew Witty in a statement.

Witty is in the process of refocusing and streamling GSK. He said Dingemans’ hire is part of that process.

“In joining our Executive Team, Simon will bring valuable experience and capability to support us in our strategy to grow and diversify GSK’s business through organic means and bolt-on acquisitions,” Witty explained. “He will also be responsible for delivering cost savings from our global restructuring program and implementing further measures to simplify our operational model. I am delighted that someone of his caliber will be joining GSK.”

Fore more about the announcement, read here.

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