British pharmaceutical giant GSK on Monday said longtime chief executive Emma Walmsley will be replaced by its chief commercial officer in January, as the company navigates US tariffs on the sector.
Luke Miels will take over on January 1 from Walmsley, who will have been at the helm for almost nine years, GSK said in an unexpected announcement.
GSK earlier this month said it planned to invest $30 billion in the United States over the next five years.
The investment was announced before US President Donald Trump said last week that he would impose 100 percent tariffs on all branded pharmaceutical products from Wednesday, unless companies are building manufacturing plants in the United States.
“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 the company’s statement.
“Today, GSK is a biopharma innovator, with far stronger momentum and prospects than nine years ago,” she added.
Miels, 50, said he will be leading a company “with outstanding prospects.”
“As the next CEO, I am privileged to take on this responsibility, with humility and ambition,” he added.
Following news of the appointment, GSK shares jumped 3.5 percent, topping London’s benchmark FTSE 100 index in early deals.
