In a surprising move, Emma Walmsley, the first woman to lead a big pharma company, will step down. Her Chief Commercial Officer, Luke Miels, will fill the position.
After obtaining the CEO title in 2017, Walmsley managed to turn the fortunes of GSK around over the last several years despite some major obstacles. For instance, in 2021, Walmsley made the bold decision to de-merge GSK’s consumer health unit Haleon, leaving the company’s biopharma and vaccines departments to stand on their own.
Initially she received support and confidence from GSK’s board, investment group Elliott Management, and Bluebell Capital Partners who claimed there was a need for change at the top. However, Elliott Management later rallied to remove Walmsley after the de-merger, stating she should lead Haleon. Yet Walmsley stood her ground and fended off the pressure.
This was just the beginning of challenges for Walmsley. Despite a soar in sales in 2023 and 2024, the company’s new RSV vaccines, Arexvy, saw a plummet in sales after a rival blockbuster took over the market in 2024. This was exacerbated by the intense vaccine scrutiny under the Trump administration.
Although GSK’s pipeline of new drugs has sometimes fallen behind rivals. Walmsley’s decision to spin out its consumer health business and narrow focus on the real winners in respiratory, immunology, inflammation, and cancer medicines and vaccines has been a vital move for the company.
Walmsley stated: “2026 is a pivotal year for GSK to define its path for the decade ahead, and I believe the right moment for new leadership.” Furthermore, Walmsley will remain with GSK until late 2026 to support Miels in his new role as CEO.