Investor Elliott wants GSK leadership settled before split

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…

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