Emma Walmsley To Be Replaced As Chief Executive

The pharmaceutical group GSK has announced the surprise departure of its chief executive, Emma Walmsley, after eight years in the top job.Walmsley, who has run the FTSE 100 company since 2017, will step down from the board at the end of this year, and remain at the business until her notice period ends on 30 September 2026.She said in a statement: “2026 is a pivotal year for GSK to define its path for the decade ahead, and I believe the right moment for new leadership.

“As CEO, you hope to leave the company you love stronger than you found it and prepare for seamless succession. I’m proud to have done both – and to have created Haleon, a new world-leader in consumer health.“Today, GSK is a biopharma innovator, with far stronger momentum and prospects than nine years ago.”Luke Miels, who is now chief commercial officer and has been at GSK since 2017, has been appointed as her successor.Walmsley oversaw much change at GSK in her eight-year tenure, including the separation of the group’s consumer healthcare business Haleon, its biggest corporate restructure in two decades.

Walmsley is one of the highest-paid chief executives in London, with a £10.6m total package last year, down from £12.7m in 2023 as a result of lower bonuses. Her fixed pay was little changed at £1.6m.The company’s chair, Sir Jonathan Symonds, thanked Walmsley for her “outstanding leadership in delivering a strategic transformation of GSK, including the successful demerger of Haleon”.He said: “GSK today is necessarily very different to the company she was appointed to nine years ago and has a bright and ambitious future. The company is performing to a new, more competitive standard, with performance anchored in a stronger portfolio balanced across specialty medicines and vaccines.”

GSK, which is headquartered in London, employs more than 65,000 people across the world. It is one of the largest companies listed on the London Stock Exchange, with a market capitalisation of £60bn.Her departure comes at a difficult time in the pharmaceutical industry, as Donald Trump has threatened to impose new tariffs this week on branded drugs, as well as trucks and kitchen cabinets.

Source: GUARDIAN