CHIKUN/KAJURU REP, HON. FIDELIX BAGUDU, ANNOUNCES NEW APPOINTMENTS TO STRENGTHEN INCLUSIVE GOVERNANCE. (PHOTO).
GSK Chief Executive Emma Walmsley, the first woman to lead a major pharmaceutical company, will step down on Dec. 31 after more than eight years at the helm of the London-based drugmaker.
Walmsley, 56, will be succeeded by Luke Miels, currently GSK’s chief commercial officer, the company announced Monday. During her tenure, Walmsley oversaw several strategic initiatives, including the spinoff of the consumer health business Haleon, but the company’s overall performance has underwhelmed investors. GSK shares rose 3.3% to 1,534.50 pence in early trading, making it the top gainer on the London Stock Exchange.
Despite these gains, GSK’s stock has fallen 11% since Walmsley took over on April 1, 2017. Analysts say the company has delivered on financial guidance but continues to experience slow growth. Derren Nathan, head of equity research at U.K.-based Hargreaves Lansdown, noted that while GSK has achieved progress, “the share price performance has been lackluster” and growth rates remain in the single digits.
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