GlaxoSmithKline names Emma Walmsley as chief executive
GlaxoSmithKline has appointed Emma Walmsley, its current head of consumer healthcare, as its new chief executive.
Ms Walmsley, who joined the UK's biggest drugmaker in 2010 from L'Oreal, will replace current chief Sir Andrew Witty next year.
She will take over from Sir Andrew in March 2017.
Ms Walmsley, who describes herself as "competitive", will be the firm's first female chief executive, and one of only seven female FTSE 100 chief executives.
She spent 17 years at French cosmetics firm L'Oreal, where she worked in the UK, Europe, the US and China in marketing and management.
Ms Warmsley joined GlaxoSmithKline in 2010, and became a member of the executive team in 2011.
In a statement, Ms Walmsley said: "I am delighted and hon- oured to be appointed GSK's next CEO.
"I'm looking forward to working with Andrew and other leaders over the next few months to ensure a smooth handover and to develop plans for 2017 and beyond."
Sir Andrew has been with GSK for more than three decades, having started as a management trainee.
During his nearly ten years as boss, Sir Andrew has overseen initiatives such as the firm's plan to drop patents in the world's poorest countries.
The firm has been developing what could be the world's first malaria vaccine as part of a thirtyyear project.
He has also weathered storms including China fining GlaxoSmithKline $490m in 2014 after a court found it guilty of bribery and the revelation that GSK cut secret tax deals with the authorities in Luxembourg in 2012.
GlaxoSmithKline's consumer healthcare business includes brands such as Aquafresh toothpaste, Panadol pain relief, and Horlicks malted drinks.
Ms Walmsley's appointment could be seen as a signal that GSK will keep its consumer operation as a core part of its business.
"Under Andrew's leadership, GSK has successfully developed into a company with market-leading positions in pharmaceuticals, vaccines and consumer healthcare," Mr Hampton said.
"These provide excellent platforms for sustainable, long-term growth, and we are confident Emma will successfully build on these strengths."
GlaxoSmithKline employs around 16,000 people in the UK, with about 6,000 of those employed in manufacturing.