News & Analysis » US

GlaxoSmithKline Appoints Goldman Sachs' Simon Dingemans As CFO - Update

(RTTNews) - GlaxoSmithKline plc (GSK, GSK.L) announced Wednesday the appointment of Goldman Sachs' executive Simon Dingemans as its new Chief Financial Officer and Executive Director, succeeding Julian Heslop, who will retire from the posts by the end of March 2011. Dingemans will join on January 4.

Dingemans, who has over 25 years of experience in investment banking, is currently Managing Director and Partner at Goldman Sachs. Most recently, he led Goldman Sachs' European M&A business and before that he was head of UK Investment Banking.

Glaxo noted that Dingemans has worked closely with the company for many years, most recently helping to establish ViiV Healthcare, a specialist HIV company.

In his new role, Dingemans will be responsible for delivering cost savings from Glaxo's global restructuring programme and implementing further measures to simplify its operational model, the company added.

GSK is currently trading at $39.34, up $0.43 or 1.11%, on a volume of 0.11 million shares on the NYSE.