Drugs giant GlaxoSmithKline has named its new chief executive to replace Sir Andrew Witty.

Sir Andrew is retiring this coming March and will be succeeded by Emma Walmsley, who has previously helmed GSK’s £6 billion consumer healthcare division.

When Ms Walmsley taken on her new role at the £80 billion company, she will likely be the most powerful woman in the FTSE 100.

Glaxo chairman Sir Philip Hampton, said: "I am very pleased to announce Emma's appointment, after what has been a very thorough and rigorous global selection process carried out by the GSK Board of Directors.

“Emma is an outstanding leader with highly valuable experience of building and running major global businesses and a strong track record of delivering growth and driving performance in healthcare.

“Under Andrew's leadership, GSK has successfully developed into a company with market-leading positions in pharmaceuticals, vaccines and consumer healthcare.

“These provide excellent platforms for sustainable, long-term growth, and we are confident Emma will successfully build on these strengths."

Ms Walmsley joined Glaxo in 2010 from L'Oreal, and became a member of Glaxo's corporate executive team since 2011.

She said: "I am delighted and honoured to be appointed GSK's next CEO. GSK is a company that leads both in science and in the way it does business.

“We have momentum in the Group and as the demand for medical innovation and trusted healthcare products continues to rise, we have the opportunity and the potential to create meaningful benefits for patients, consumers and our shareholders.

“I'm looking forward to working with Andrew and other leaders over the next few months to ensure a smooth handover and to develop plans for 2017 and beyond."