Chris Viehbacher, a top executive at GlaxoSmithKline PLC who lost a recent race to become chief executive, will leave the company in December and forfeit a $5 million bonus Glaxo offered to retain him.

Mr. Viehbacher, president of North American pharmaceuticals and a member of Glaxo's board, is leaving "to pursue another opportunity," the second-biggest drug company by sales said in a statement.

Source: The Wall Street Journal

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