GSK chief Walmsley quits

Pharmaceuticals firm GSK has announced a shock change at the top, with CEO Dame Emma Walmsley opting to step down after eight years in charge.

- KARL MATCHETT

Chief commercial officer Luke Miels will be stepping up to lead the company from 1 January, though Dame Emma will remain employed by the company until the end of September 2026. The current chief executive said it was “the right moment” for a change in the company, and she was “proud” to be leaving it in a stronger position than when she took over.

GSK is one of the largest firms in the FTSE 100, sitting just outside the top 10 by market capitalisation as a £60bn business.

Among the notable changes during Dame Emma’s tenure was the spinning off of Haleon, now a separate £29bn consumer health business. She was also recognised as the first-ever female chief executive of a major pharma company and had a total pay package in excess of £10m last year.

However, the change also comes at a notable point in the wider pharmaceutical industry, with the US pressuring companies for significant investment and price discounts, and some firms departing or pausing investment in the UK.