GSK announced on Monday that Chief Executive Emma Walmsley will step down after nine years in the role, with current Chief Commercial Officer Luke Miels set to take over on January 1.
The transition marks a major shift for the UK-based drugmaker as it seeks to define its long-term growth strategy.
Walmsley, who took the top job in 2017, guided GSK through a period of reinvention, focusing on cancer and infectious diseases while restructuring the business following the 2022 demerger of its consumer healthcare arm Haleon.
Despite challenges, including declining revenue from key medicines and shareholder pressure, she was credited with revitalising the company’s research pipeline and stabilising its balance sheet.
“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.
She will step down from the board on December 31 but remain with the company until September 2026 to ensure a smooth handover.
Market welcomes leadership change: who is Luke Miels?
Shares of GSK rose 3.6% on Monday, making it one of the strongest performers on the FTSE 100 index.
Investors appeared to welcome the appointment of Miels, who has been with the company since 2017 and played a key role in building its oncology and respiratory portfolio.
Chairman Jonathan Symonds praised Miels, 50, for his extensive experience in biopharma development and commercialization.
“He has outstanding global expertise and a deep understanding of GSK,” Symonds said.
Miels previously held senior roles at AstraZeneca, Roche, and Sanofi before joining GSK.
He is expected to steer the company toward its goal of achieving more than £40 billion ($53.7 billion) in annual sales by 2031, with multiple new drug launches anticipated by 2027.
US expansion amid political pressures
The leadership announcement comes shortly after GSK unveiled plans to invest $30 billion in the United States over the next five years.
The commitment includes a $1.2 billion outlay for advanced manufacturing facilities and the use of artificial intelligence in next-generation laboratories.
The move reflects increasing pressure from the Trump administration for pharmaceutical companies to shift production to the US, where the government has threatened tariffs of up to 250% on imported medicines.
Several drugmakers have already scaled back or redirected spending away from the UK in response, with nearly £2 billion in planned investments cancelled this year.
Outlook under Miels
Walmsley’s tenure saw GSK shares fall nearly 6% overall, even as she repositioned the company for long-term growth.
With Miels at the helm, the focus will be on accelerating commercial execution, expanding the specialty medicines portfolio, and navigating regulatory and political challenges in key markets.
Analysts say the leadership change could mark a new era for GSK, as it seeks to balance scientific innovation with geopolitical and economic pressures that are reshaping the global pharmaceuticals landscape.
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