GlaxoSmithKline boss Emma Walmsley preparing for battle with Elliott Management after activist investor warns that ‘change is coming’
GlaxoSmithKline boss Emma Walmsley is preparing for battle with Elliott Management after the activist investor warned that ‘change is coming’.
Walmsley, who is leading a turnaround of the British drug-maker, has been under the spotlight since feared hedge fund Elliott snapped up a stake in GSK last month.
Preparing for battle: Elliott Management is understood to be weighing up an attack on Emma Walmsley
The New York-based firm is understood to be weighing an attack on Walmsley, who is preparing to split GSK into a pharmaceuticals firm and a consumer business making products such as Aquafresh toothpaste and Nicorette patches.
Walmsley, 51, has declared her intention to lead the more prestigious pharma arm – but some investors were worried about her lack of medical experience and slow progress in drug development.
One investor with knowledge of Elliott’s plans told The Sunday Telegraph: ‘Change is coming and it’s going to be action-orientated. People changing could be part of it. [Their ideas] are plausible in some cases but less so in others.’
Elliott could push for an even more drastic overhaul. Walmsley will set out her business blueprint in June.