From medications to working for Dubai, advising on investments...BD

JP Garnier, outgoing chief executive of GlaxoSmithKline, has agreed to join a newly formed advisory board of Dubai International Capital, the Middle East Emirate's $13bn sovereign wealth fund.  Mr Garnier, who will take up the position in January, will help DIC to seek out investments abroad.

The fund is the investment vehicle most often used by the Dubai government for foreign acquisitions, which have become a priority as it tries to diversify away from its dependence on oil revenues and establish itself as the financial center of the Middle East.

Mr Garnier has led GSK, the world's second largest pharmaceuticals company after Pfizer, since 2000. While at the helm he has faced down several controversies, including a shareholder revolt over his multi-million-pound pay package. He also recently unveiled a restructuring program that will see thousand of jobs cut. He steps down from GSK in May next year.

Outgoing Glaxo chief Garnier to lead Dubai fund's advisory board - Independent Online Edition > Business News


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