- GlaxoSmithKline plc GSK said its board sees Chief Executive Emma Walmsley as the right person to lead its pharmaceutical business after the upcoming split with its consumer-health unit.
- The board "fully supports" the steps she's taking to improve performance, GSK said in a statement Friday.
- After amassing a stake in Glaxo in its first public comment, Elliott called on Thursday for board changes ahead of the planned separation of GSK's businesses.
- It asked Glaxo to launch a process to decide whether Ms. Walmsley should continue to lead the company. Elliott also criticized the company's recent performance under her leadership.
- In its response, GSK noted that it had already appointed two new non-executive directors to the board in the last 18 months. The company intends to add new faces to the team ahead of the separation "to increase biopharmaceuticals and scientific experience."
- GSK's board said that it would evaluate any alternative options for the consumer-healthcare unit that may arise.
- Price Action: GSK shares are up 0.13% at $40.22 during the market session on the last check Friday.
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