GSK Management Shake Up Ahead Of New CEO Sees Hussain Out, AZ's Miels In
"Succession processes are challenging for everyone involved and, unfortunately, it is rare that all of those involved stay with the company," stated GSK's out-going CEO Andrew Witty, as Abbas Hussain decides to leave the company having lost out on the top job, which went to Emma Walmsley. His successor will be AstraZeneca's Luke Miels.
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The head of GSK's vaccines division, Luc Debruyne, is leaving the company at the end of the year.
In her first address as CEO, Emma Walmsley has shocked the market with a long list of changes for GSK, including a total makeover of the group's pharma unit. As a result, more than 30 R&D programs will be getting the axe and a 2011 commercialization partnership with Johnson & Johnson is on its way to the gallows.
It's Emma Walmsley's first week at the helm of GlaxoSmithKline. What can we expect in terms of her priorities?