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| RBS chairman Sir Philip Hampton leaves for GSK | RBS chairman Sir Philip Hampton leaves for GSK |
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| Sir Philip Hampton, who has been chairman of Royal Bank of Scotland since 2009, is to leave the bank next year for the same role at GlaxoSmithKline. | Sir Philip Hampton, who has been chairman of Royal Bank of Scotland since 2009, is to leave the bank next year for the same role at GlaxoSmithKline. |
| He will take over from former Vodafone boss Sir Christopher Gent, who has been at the helm of the pharmaceuticals giant since the start of 2005. | He will take over from former Vodafone boss Sir Christopher Gent, who has been at the helm of the pharmaceuticals giant since the start of 2005. |
| RBS, which is 80 per cent taxpayer owned, said Sir Philip will leave the company during 2015 after a suitable successor has been appointed to replace him. | RBS, which is 80 per cent taxpayer owned, said Sir Philip will leave the company during 2015 after a suitable successor has been appointed to replace him. |
| Glaxo said Sir Philip, who is a former chairman of Sainsbury's, will join its board at the start of January and will become its chairman from September. | Glaxo said Sir Philip, who is a former chairman of Sainsbury's, will join its board at the start of January and will become its chairman from September. |
| He joined RBS at the height of its crisis after taking the role of chairman in February 2009 to work alongside chief executive Stephen Hester. | He joined RBS at the height of its crisis after taking the role of chairman in February 2009 to work alongside chief executive Stephen Hester. |
| However, his planned departure from the RBS board comes with the Government still a long way from returning the bank to private hands. | However, his planned departure from the RBS board comes with the Government still a long way from returning the bank to private hands. |
| Sir Philip said today: "It has been a privilege to serve as chairman of RBS since 2009. I am looking forward to working with my colleagues in the months ahead as we work to implement the bank's strategy and continue to improve the support we provide to our customers." | Sir Philip said today: "It has been a privilege to serve as chairman of RBS since 2009. I am looking forward to working with my colleagues in the months ahead as we work to implement the bank's strategy and continue to improve the support we provide to our customers." |
| Sir Philip has been finance director at Lloyds TSB, BT, British Gas and British Steel and is a former chairman of UK Financial Investments, which manages the UK Government's shareholdings in banks. | Sir Philip has been finance director at Lloyds TSB, BT, British Gas and British Steel and is a former chairman of UK Financial Investments, which manages the UK Government's shareholdings in banks. |
| Drugs company Glaxo has been in the spotlight recently after it was fined £297 million and its former country manager handed a suspended prison sentence in China for bribery. | Drugs company Glaxo has been in the spotlight recently after it was fined £297 million and its former country manager handed a suspended prison sentence in China for bribery. |