GSK extends CEO’s contract
Executive Summary
GlaxoSmithKline CEO J.P. Garnier has garnered a contract extension from the company's board. The extension comes as the firm gears up for multiple launches and regulatory filings in 2007, as well as uncertainty due to several products at risk of coming off patent, the company said 1("The Pink Sheet" Sept. 26, 2005, p. 21). Garnier's contract now expires in May 2008, eights months after his original contract was slated to end October 2007. Garnier, who will turn 60 years old in October 2007, will remain at the company past GSK's standard target date of contract expiration once execs reach 60 years of age...