Chief Commerical Officer Luke Miels will replace outgoing GSK CEO Emma Walmsley at the U.K. pharma next year.
Emma Walmsley, who in 2017 became the first woman to lead a major pharmaceutical company, will step down from her post as CEO of GSK. She is to be succeeded by Luke Miels, who currently serves as chief commercial officer, effective January 1, 2026.
Walmsley came to GSK in 2010, after rising up the ranks at L’Oréal. She began her tenure at GSK as president of consumer healthcare Europe, before taking over the global division and later becoming CEO of consumer healthcare.
When she assumed the top CEO role in 2017, Walmsley was called a champion of the consumer healthcare portfolio at GSK, a unit that makes up a quarter of the company’s total revenue. But rather than keep the unit within GSK, Walmsley oversaw a spinout in 2022 that created the consumer-focused company Haleon. GSK retains a major stake in the company, which is shared with Pfizer.
Over the years, Walmsley has faced pressure from activist investors who sought her ouster amid the Haleon split.
GSK credited Walmsley with the successful demerger of Haleon, the prioritization of specialty medicines and vaccines, and the reinvigoration of the entire R&D portfolio at the company.
Key to GSK’s vaccine portfolio is Shingrix, which launched in October 2017, months after Walmsley took the helm. The vaccine has long been challenged by supply issues as demand significantly outstripped what GSK could produce.
The legacy vaccine company also struggled to match peers during the COVID-19 pandemic, eventually partnering with Sanofi to launch VidPrevtyn in the U.K. and Europe, but not the U.S. A long-term partnership with CureVac has yet to bear fruit as well, despite multiple attempts to restructure the deal.
GSK and CureVac sued the makers of the mRNA-based COVID vaccines, Moderna, BioNTech and Pfizer, seeking royalties. BioNTech then moved to acquire CureVac, its once bitter rival, putting an end to the matter. A settlement was reached this summer with $320 million to be paid out to GSK by BioNTech.
Still, Walmsley will leave Miels with 15 major pipeline opportunities set to launch between 2025 and 2031 and a strengthened balance sheet, according to GSK. The company expects total sales of more than £40 billion ($54.8 billion) by 2031.
Walmsley has also kicked off a multi-billion investment in U.S. manufacturing in an effort to dodge President Donald Trump’s planned tariffs. “The U.S. is our number one priority market,” Walmsley said during a second-quarter earnings call. While she did not provide specifics, she did say that the plan will include “tens of billions” of dollars in the U.S. over the next five years.
“GSK today is necessarily very different to the company she was appointed to nine years ago and has a bright and ambitious future,” Jonathan Symonds, chair of GSK, said in a statement. “The company is performing to a new, more competitive standard, with performance anchored in a stronger portfolio balanced across specialty medicines and vaccines.”
In stepping down, Walmsley will walk away from a new higher pay package that was negotiated to get her compensation more in line with her peers. Since she will have worked 2025 in full, however, she will be eligible for the full slate of compensation due to her, plus a bonus, the company noted. For 2025, she is eligible for up to $27.2 million.
Introducing CEO Luke Miels
Walmsley’s successor Miels has served at GSK since 2017. He has overseen the company’s specialty medicine portfolio, particularly its key oncology and respiratory therapies. He previously worked at AstraZeneca, Roche and Sanofi.
“Today, GSK is a biopharma innovator, with far stronger momentum and prospects than nine years ago. Most importantly, the inspiring people in our labs, factories, and markets worldwide are delivering innovation that matters to get ahead of disease,” Walmsley said. “I know Luke will lead them brilliantly to even greater impact for patients. I look forward to supporting this transition and to cheering GSK’s future success as I begin my own new adventures.”
Miels will officially take over after the new year. Walmsley will remain with GSK until September 30, 2026, to aid with the transition. She will remain on the board until the end of 2025. The board has asked Walmsley to stick around to provide support “given the potential impact to GSK’s operating environment arising from geopolitics and new technologies.”
“2026 is a pivotal year for GSK to define its path for the decade ahead, and I believe the right moment for new leadership,” Walmsley said in a statement. “As CEO, you hope to leave the company you love stronger than you found it and prepare for seamless succession. I’m proud to have done both—and to have created Haleon, a new world-leader in consumer health.”
Investors will get to hear from Walmsley, Miels and other GSK leadership on October 29, when the company reports third-quarter earnings.
