GlaxoSmithKline plc (GSK) informed that Julian Heslop is to retire as chief financial officer and executive director of the company at the end of March 2011. He will be succeeded by Simon Dingemans who is appointed chief financial officer designate and executive director effective 4 January 2011.

Simon joins GSK from Goldman Sachs where he is currently managing director and partner. He has over 25 years of experience in investment banking, including most recently as leader of Goldman Sachs' European M&A business and before that as head of UK Investment Banking. During this time he has built relationships and offered strategic advice across multiple industry sectors, including pharmaceuticals and consumer healthcare. He has worked closely with GSK for many years, most recently helping to establish ViiV Healthcare, a new world-leading, specialist HIV company.

Andrew Witty, chief executive officer, GSK said, “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. 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. He will also be responsible for delivering cost savings from our global restructuring programme and implementing further measures to simplify our operational model.”

GSK is one of the world’s leading research-based pharmaceutical and healthcare companies – committed to improving the quality of human life by enabling people to do more, feel better and live longer.