(Reuters) -GSK’s board on Friday rejected Elliott’s demands that the British company change its management and sell its consumer healthcare arm after separating it from its pharma business, a day after the activist investor’s strongly worded proposals.
“The Board strongly believes Emma Walmsley is the right leader of New GSK and fully supports the actions being taken by her and the management team,” GSK said on Friday, adding that talks with its largest shareholders showed they were confident in GSK’s strategy and leadership.
In a letter to the GSK board, Elliott on Thursday said GSK should review its leadership and consider a sale of its consumer healthcare business as it confirmed its stake in the pharmaceuticals group.
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