I’m ‘very well paid’, says Glaxo boss Emma Walmsley

The boss of GSK brushed off concerns that British executives are underpaid compared to the US.

As a pay revolt at Smith & Nephew reignited the debate over boardroom excess, GSK chief Dame Emma Walmsley said she was ‘very well paid’ by the drugs giant.

Walmsley, who earned £12.7million in 2023, said she felt ‘really good’ about its ability to retain talent.

Smith & Nephew is the latest firm to be hit by a shareholder revolt on fat cat pay after discontent at AstraZeneca, Ocado and London Stock Exchange Group.

GSK said it expects profits to rise between 9 per cent and 11 per cent this year –up from previous guidance of 7 per cent to 10 per cent – after sales hit £7.4billion in the first three months of 2024, up 10 per cent on the same period of 2023.

Walmsley said: ‘We have strengthened prospects for growth in all of our key therapeutic areas.’ Shares climbed 1.9 per cent, or 32 p, to 1705 p.