GlaxoSmithKline establishes fellowships in honour of former CEO

GlaxoSmithKline has announced the establishment of a pair of fellowships in honour of its former chief executive officer Jean-Pierre Garnier.

The firm explains that the two fellowships – worth a total of $500,000 (252,831 pounds) – will support students enrolled at Stanford Graduate School of Business.

Dr Garnier graduated from the seat of learning in 1974 and retired from GlaxoSmithKline on May 21st after serving as the firm’s chief executive officer from its creation in 2001.

Sir Christopher Gent, chairman of the firm, comments: “Every successful company invests in the business to grow the bottom line.

We believe that business should also invest in something less tangible, less quantifiable, but of equal importance – building its reputation with the society it serves.”

In recent days GlaxoSmithKline announced the results of its annual general meeting, noting that all resolutions – including those that involved electing and re-electing members of the board – were passed.