Drugs giant GlaxoSmithKline has named Emma Walmsley as its new chief executive in a move that will make her the most powerful woman in the FTSE 100.
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GSK announced in a statement this morning that Emma Walmsley, now head of the group’s consumer healthcare division, was appointed CEO designate, to succeed Sir Andrew Witty when he steps down on March 31.
The Financial Times notes that Walmsley, who joined GSK in 2010 after 17 years at L’Oréal, will become the only female chief executive of a major global pharmaceutical company.
Walmsley is now CEO of GSK’s Consumer Healthcare division, which was established in 2015 following its tie-up with Novartis.
Ms Walmsley has headed Glaxo’s £6 billion consumer healthcare arm since it was created in March a year ago as part of a joint venture with Novartis and has been a member of Glaxo’s corporate executive team since 2011.
GSK said details of Walmsley’s salary would be disclosed next year.
I am very pleased to announce Emma’s appointment, after what has been a very thorough and rigorous global selection process carried out by the GSK board of directors. The move comes after the United Kingdom drugmaker’s chief executive Sir Andrew Witty announced earlier this year that he will step down in March 2017.
Walmsley says Tuesday that GSK has momentum and “the opportunity and the potential to create meaningful benefits for patients, consumers and our shareholders”. She will join the board from January.
The appointment has immediately spurred suggestions that GSK intends to retain its current diversified structure and not split off its consumer healthcare business, something that has been pushed for by investors including investment fund manager Neil Woodford.
GSK said Walmsley’s salary is yet to be announced, with the group soon to begin talks with shareholders as part of an overhaul of executive pay.
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It comes as executive pay is in the spotlight at the group after it was disclosed that Sir Andrew’s total pay surged by 71% to £6.7 million previous year, despite falling core earnings and sales.
