Activist Hedge Fund Elliott Questions GSK CEO Walmsley's Leadership: Mail on Sunday
- GlaxoSmithKline Plc (NYSE: GSK) appeared to dodge a potential shakeup last week when Elliott Management said it would not push the sale of its vaccines and pharmaceuticals business or push to slash R&D spending.
- But now, the activist firm is reportedly raising questions about the company's CEO Emma Walmsley.
- In private talks with Glaxo shareholders, Elliott has questioned whether CEO Emma Walmsley is the best fit to lead GSK long term, The Mail on Sunday first reported.
- One top GSK shareholder told the Daily Mail that it appears that Elliott doesn't believe the CEO knows enough about the pharma and vaccine business and that it's not her background. Walmsley was a former L'Oreal executive.
- Elliott is likely to increase pressure on the company ahead of a June 23 shareholder meeting where the CEO is expected to unveil her growth plans, citing multiple sources who confirmed details of talks with investors.
- Both Elliott and GSK declined to comment to the Daily Mail.
- GSK shares have lost 19% since Walmsley became CEO in 2017.
- Price Action: GSK shares are down 0.93% at $38.41 during the market session on the last check Tuesday.
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