Hedge fund had sought to force Emma Walmsley to reapply for her job ahead of drugmaker’s corporate split
The drugmaker GlaxoSmithKline has issued a firm rejection of the main demands made by the activist investor Elliott Management, and insisted its chief executive, Emma Walmsley, would lead the new pharmaceuticals and vaccines company after a corporate split next year.
A day after the New York hedge fund published a 17-page letter , in effect demanding Walmsley reapply for her job before the demerger of its consumer healthcare division next year, GSK hit back witha three-page statement defending the company’s strategy.
