Glaxosmithkline PLC announced on October 8 that the incumbent president of its European pharmaceuticals business will take over the company's reins from Chief Executive Jean-Pierre Garnier starting May.

Andrew Witty, who oversees GSK's company European operations, beat chief operating officer David Stout and president of U.S. pharmaceuticals Chris Viehbacher for the drug maker's top managing post.

The announcement was made after a year of fierce competition over the post among the three insiders. The decision though was a surprise as analysts were not expecting the CEO successor to be known until year-end.

Mike Ward at Nomura Code highlighted Witty's experience in Asia, which supposedly tipped the scale to his favor given that Asia is a future area of growth for the pharmaceutical industry. Witty served in Singapore as senior vice president for Asia pacific, and as economic adviser to the governor of Guangzhou, China for two years. He also had a stint in the Singapore economic development board and the Singapore land authority board.

According to insiders, this international experience helped to sway the GSK board, which is keen to grow in overseas markets such as China.