The salary of Emma Walmsley, new GSK CEO

A number of major shareholders in GlaxoSmithKline have demanded that the company decreases the salary proposed for new CEO Emma Walmsley, claiming that she has limited experience in the pharmaceutical sector. Walmsley joined GSK in 2010 as head of Consumer Products, after a long career in L’Oréal. Her predecessor, Sir Andrew Witty, was paid nearly GPB1.1m a year in base salary in 2015, plus GBP5.5m in bonus. The new CEO will reportedly have a base salary of GBP850,000 and will receive a bonus significantly lower than Sir Witty’s. The challenges she will have to face include a decision about whether to retain the corporate structure –championed by Sir Witty – or bow to pressure from many investors, who are demanding for a split into independent units which would then be listed. Emma Walmsley is probably the most powerful businesswoman in the UK and is one of the very few female CEOs in the big pharma arena, together with Heather Bresch (Mylan).
(Source: SkyNews)