- July 1, 2021
- Posted by: Stratford Team
- Category: Business
Company logo of pharmaceutical company GlaxoSmithKline is seen at their Stevenage facility, Britain October 26, 2020. REUTERS/Matthew Childs/File Photo
- Elliott says decisions to be made on leadership
- Criticises GSK performance in open letter
- In response, GSK says addressing ‘legacy issues’
LONDON, July 1 (Reuters) – Activist investor Elliott said GlaxoSmithKline (GSK.L) should review its leadership and consider a sale of its consumer healthcare business as it confirmed on Thursday that it had taken a significant stake in the British pharmaceuticals group.
GSK last week set out plans for a separate listing next year of the consumer health business, which includes brands such as Sensodyne toothpaste and Advil painkillers, in the biggest shake-up for the company in two decades. read more
In a strongly worded letter to the GSK board, setting out five recommendations to tackle what it called years of underperformance, Elliott raised the pressure on Chief…
