British drugmaker GSK (GSK.L), opens new tab said on Monday Emma Walmsley will step down as CEO after nine years in the role and will be replaced by insider Luke Miels in January.
Since taking over in 2017, Walmsley has returned GSK to growth, with a focus on cancer and infectious diseases to counter a combination of patent expiries and declining revenue from its best-selling medicines by 2030.
“2026 is a pivotal year for GSK to define its path for the decade ahead, and I believe the right moment for new leadership,” Walmsley said.
Miels will be tasked with leading a new phase of the company and delivering GSK’s sales target of more than 40 billion pounds ($53.76 billion) by 2031.
Miels, 50, joined GSK in 2017 and is currently the drugmaker’s chief commercial officer, overseeing the company’s global medicines and vaccines portfolio. He will assume full responsibilities as chief executive on January 1.
“He has outstanding global biopharma development and commercial experience, together with a deep understanding of the company,” GSK Chairman Jonathan Symonds said in a statement.
GSK’s shares have fallen nearly 6% since Walmsley took over as CEO. Under her leadership, GSK also demerged consumer healthcare group Haleon (HLN.L), opens new tab into a separate listed entity.
The appointment of Miels as CEO designate was the outcome of a “rigorous process” conducted by the board, considering both internal and external candidates, GSK said.
