GlaxoSmithKline has sprung a surprise with the appointment of Emma Walmsley, a classicist, as the drugmaker’s chief executive. The appointment ticks all but one box.
The U.K. pharmaceuticals group has been hunting in earnest for a new leader since Andrew Witty announced his retirement in March amid investor grumbling at the company’s poor share performance. It’s since pulled ahead of European pharma peers, thanks to the post-Brexit fall in sterling. Still, discontent with Glaxo persists. Some investors want the group broken up.
