British drugmaker GlaxoSmithKline (GSK) on Monday (British time) announced that Emma Walmsley will step down as chief executive in January after nearly nine years at the helm, making way for chief commercial officer Luke Miels to take charge.The leadership transition comes at a critical juncture for the pharma giant, which is grappling with uncertainty over US President Donald Trump’s 100 per cent tariff on branded pharmaceutical imports. The tariff move, set to take effect this week, targets companies not investing in US-based manufacturing, AFP reported.Walmsley, 56, who steered GSK through the Covid-19 pandemic and spun off its consumer health division into Haleon in 2022, described 2026 as “a pivotal year for GSK to define its path for the decade ahead” and said she believed this was the right moment for new leadership. “Today, GSK is a biopharma innovator, with far stronger momentum and prospects than nine years ago,” she added.Miels, 50, who joined GSK after a senior stint at AstraZeneca, said he was “privileged to take on this responsibility, with humility and ambition,” and highlighted the company’s “outstanding prospects” as it navigates shifting global trade conditions.Shares in GSK gained 2.4 per cent in London morning trade following the announcement. Analysts said the rally reflected confidence in a smooth handover and expectations of stronger performance under Miels.Earlier this month, GSK unveiled plans to invest $30 billion in the United States over five years, including a biologics facility in Pennsylvania for cancer and respiratory drugs and artificial intelligence initiatives across its five American manufacturing sites.The investment was announced during Trump’s state visit to the UK and came before the White House unveiled sweeping tariffs on pharma imports. GSK and its British rival AstraZeneca are now hoping for exemptions, similar to those the EU expects to secure under its trade deal with Washington.Walmsley’s tenure was marked by intense scrutiny from activist investors, litigation costs—including a $2.3 billion payout to settle Zantac lawsuits without admission of liability—and pressure over Covid-19 vaccine delays. However, she also led a major turnaround, positioning GSK as a focused biopharma player.Her successor Miels will earn a base salary of £1.375 million ($1.85 million), below Walmsley’s level, but could receive additional bonuses, the company said.Russ Mould, investment director at AJ Bell, noted that Walmsley had been “patiently leading a turnaround of the pharmaceutical giant almost ever since she took over in 2017,” pointing to progress on spin-offs and new drug pipelines despite setbacks in vaccines and legal overhangs.With Trump’s tariff threat looming, GSK’s change at the top signals not just a new era of leadership but also a crucial test for its global growth plans.
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