Investors dipping their toes as CEO steps down

IT HAS been a rather directionless few months for the GSK share price.

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However, a surprise announcement that longstanding CEO Emma Walmsley will hand over the reins to fellow colleague Luke Miels on New Year’s Day, has been greeted with a fresh injection of optimism.

Strategically, it is hard to knock Dame Emma's record. She oversaw the demerger of consumer health division Haleon, strengthening GSK’s balance sheet and sharpening the group’s focus on speciality medicines and vaccines.

There is an exciting pipeline ahead and, this year alone, GSK is on track for five major regulatory approvals. Her tenure also saw a line drawn in the sand in the Zantac litigation case, removing a key financial uncertainty.