Surprise! Murdoch Leaves GlaxoKline

January 30, 2012

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6.

Murdoch

Months after we asked whether Murdoch should remain on the

GlaxoKline board, the embattled scion of the Murdoch media empire

has decided not to stand for re-election at the upcoming annual

shareholder meeting to be held this May. His three-year stint as a

non-executive director has been under a cloud ever since a scandal

erupted over charges that various employees in the Murdoch media empire

in the UK hacked into phones belonging to families of murder victims,

terror victims, police and politicians. Ironically, one of the two

committees that Murdoch will be departing is the corporate responsibility

committee, which usually implies a board member knows something about

being a good corporate citizen. His tenure may also have become a bit of

an embarrassment for Glaxo, especially since he also sits on the

remuneration committee, which means that he is one of a select few who

gets to decide such matters as the compensation that is given to Glaxo c

eo Witty. In late 2010, Glaxo paid a hefty $750 million fine to

settle charges over production problems - contaminated meds, mislabelled

packaging and incorrect dosages - at a facility in Puerto Rico and the

feds say the investigation is ongoing. The drugmaker also agreed to pay

$40.8 million to 37 US states and the District of Columbia as well.

Ed Silverman, Pharmalot

Sheri Nakken, former R.N., MA, Hahnemannian

Homeopath

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