GlaxoSmithKline Says Co-U.S. Pharmaceutical President Resigns

GlaxoSmithKline(GSK Quote - Cramer on GSK - Stock Picks) said George Morrow, co-president of U.S. pharmaceutical operations, resigned to take a position with another company, effective Jan. 19.

The British pharmaceutical giant said David Stout, 46, who headed SmithKline Beecham's North American pharmaceutical operations before it merged with Glaxo Wellcome, will assume Morrow's duties. Before joining SmithKline Beecham, Stout was president of Schering Laboratories.

GlaxoSmithKline's shares lately dipped 25 cents, or 0.5%, to $51.88 on the New York Stock Exchange.