The search is on for the new chairman of pharmaceuticals giant GlaxoSmithKline (GSK). That’s after its current, chairman Sir Philip Hampton, resigned after just four years on the job.

On Monday, GSK confirmed that Sir Philip had informed the board of his intention to step down as non-executive chairman. No leave date was given, but the board said it has already “started the process to find a successor.”

“The Group has a clear strategy, is delivering improved operating performance and has a clear pathway forward, this is a good time to start the process to find Philip’s successor,” said Vindi Banga, GSK’s senior independent director.

The shakeup comes just a month after GSK and Pfizer announced plans to combine both their consumer healthcare businesses in a multi-billion merger.

Sir Philip said: “It is a privilege to serve as chairman of GSK. It is one of the UK’s great companies and under Emma Walmsley’s leadership, GSK has made very good progress with a new strategy and new approach to research and development.

“Following the announcement of our deal with Pfizer and the intended separation of the new consumer business, I believe this is the right moment to step down and allow a new Chair to oversee this process through to its conclusion over the next few years and to lead the Board into this next phase for GSK.”

 

GSK to merge healthcare business with Pfizer, plans to split in two

 

In her own words: GSK’s Emma Walmsley explains reasoning for Pfizer deal (+ video)

The two pharmaceutical giants — which own household names like Advil and Tums — would have combined sales of $12.7 billion a year.

Both companies have operations in North Carolina.

GSK maintains a significant life science research team in Research Triangle Park and a manufacturing plant in Zebulon.

Pfizer, meanwhile, operates a large campus and manufacturing plant in Sanford as well as another plant in Rocky Mount. In 2016, Pfizer purchased Chapel Hill life science startup Bamboo Therapeutics for $150 million in cash up front with another $400 million possible based on drug development milestones.

The merger will bring together Pfizer’s big sellers like Centrum and Caltrate with GSK’s top brands, including Excedrin and Nicorette.

GSK, which is headquartered in Britain, will own just over two-thirds of the joint venture, with US-based Pfizer (PFE) holding the rest.