GlaxoSmithKline's European president of pharmaceuticals has triumphed in the battle to succeed chief executive Jean-Pierre Garnier.
The pharmaceutical giant announced this morning that Andrew Witty has been appointed CEO designate. He will take over in May 2008 when Mr Garnier retires from the company.
Today's decision ends a two-year battle between Mr Witty and three other internal candidates – Chris Viehbacher, his US counterpart, David Stout, the president of pharmaceuticals operations, and Russell Greig, head of international operations.
It also marks a stellar rise for the 43-year-old Mr Witty, who joined Glaxo UK's graduate training scheme in 1985 after completing a degree in economics at Nottingham University.
"Andrew has made many significant contributions to GSK and I am very pleased that he is to be our next CEO," said JP Garnier.
Mr Witty became GSK's European president of pharmaceuticals in 2003, and has also worked in South Africa, Asia and the US. According to insiders, this international experience helped to sway the GSK board, which is keen to grow in overseas markets such as China.
Kevin Wilson of Citigroup said that GSK faced an "increasingly tough US market".
"Mr Witty's experience in driving significant volume growth during his tenure in charge of Europe, in the face of falling prices, will be valuable for guiding the US business as it faces not dissimilar challenges," Mr Wilson commented.
As chief executive of one of the UK's largest companies, Mr Witty will face several tough challenges.
Some investors, unimpressed with the lacklustre performance of GSK's shares over recent years, have urged the company to spin off parts of its consumer arm, which makes nutritional drinks and over-the-counter drugs.
The company has also suffered problems with two key pharmaceutical products in the US. In August the US Food and Drug Administration delayed approval of its new migraine drug Trexima for a second time.
This followed a scare over its Avandia diabetes drug, which remains on sale in America despite concern that it increases the risk of heart trouble.
