Leschly resignation denied

SMITHKLINE BEECHAM yesterday strongly denied reports that Jan Leschly, its chief executive, was preparing to step down in the next year. "Jan Leschly is not planning to resign or retire as chief executive," a spokeswoman said.

Reports had suggested that Mr Leschly (pictured), Britain's highest-paid executive, was planning to step down in a move that would have paved the way for SmithKline to merge with Glaxo Wellcome.