AN Aberdeen-trained chartered accountant has been appointed as chief financial officer at pharmaceutical and healthcare giant GlaxoSmithKline.
Iain Mackay will take on the key finance position with GSK, which has bases in Irvine and Montrose, as well as an executive director's role next year.
Mr Mackay qualified as a CA with Thomson McLintock after studying at Aberdeen University and is a currently a member of his alma mater’s court.
He joins GSK from HSBC, where he has been group finance director for eight years, and takes over from Simon Dingemans, who is to retire from the company in May 2019.
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His base salary is £850,000, with a potential annual bonus of £850,000 and possible award of long-term incentives of £1.7 million.
Mr Mackay has also worked in Asia, the US and Europe and is a trustee of the British Heart Foundation.
Emma Walmsley, chief executive officer of GSK, said: “As a proven CFO of a complex, regulated global organisation, he [Mr Mackay] brings tremendous finance experience and will be a great addition to the team.
“He is a strong leader with a track record of driving cost, cash and capital allocation discipline to deliver strategy.
"These capabilities will be vital as we continue to implement our innovation, performance and trust priorities for the benefit of patients and shareholders.”
Philip Hampton, GSK chairman, said Mr Mackay’s experience in different sectors "and in complex, regulated environments" will be valuable to the board, adding: “I look forward to his contributions.”
Mr Dingemans will continue to be accountable for financial governance until March 2019, after a transition period from January when Mr Mackay will be CFO designate, with him taking formal accountability from April.
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