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First, I?¦d like to introduce the background of GSK. GSK was formed in 2000 by the merger of Glaxo Wellcome and Smithkline Beecham. Headquartered in the UK and with operations based in the US, GSK is one of the industry leaders, with an estimated seven per cent of the world's pharmaceutical market. GSK has 108 manufacturing sites in 41 countries that supply products to 140 markets worldwide.
2.0 Treasury organizational structure
As companies become larger, authority in treasury matters has tended to become more centralized in the interests of financial efficiency and control and at the expense of local motivation and alignment of treasury policy with local business needs...
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