Embattled GlaxoSmithKline boss Emma Walmsley expected to reinforce her defences against Elliott when posting improved revenues
Embattled GlaxoSmithKline chief Emma Walmsley is expected to reinforce her defences against corporate raider Elliott this week when the pharma giant posts improving revenues.
The Mail on Sunday understands Walmsley has met with a string of large investors since she detailed her vision for the future of the business last month.
Under pressure: The company has been rocked since the US activist investor took a multi-billion pound stake
She is expected to tell the City that a number of investors have advised her to stick to her current strategy and not be distracted by Elliott’s calls for a shake-up.
The company has been rocked since the US activist investor took a multi-billion pound stake.
GSK plans to split into two next year through the demerger of its consumer arm.
Last week, it appointed consumer health care head Brian McNamara to run it after a recruitment process involving two headhunters.
Elliott wants a similar process for the remaining biopharma business, effectively demanding that Walmsley reapplies for her own job.
The stock at the £71billion firm has risen 10 per cent since Elliott’s stake emerged in April, closing at £14.16 on Friday.