{"id":289371,"date":"2021-07-02T13:34:00","date_gmt":"2021-07-02T10:34:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/glaxosmithkline-defends-itself-against-activist-elliott-recognizing-need-for-improved-and-sustained-value\/"},"modified":"2021-07-02T13:34:00","modified_gmt":"2021-07-02T10:34:00","slug":"glaxosmithkline-defends-itself-against-activist-elliott-recognizing-need-for-improved-and-sustained-value","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/glaxosmithkline-defends-itself-against-activist-elliott-recognizing-need-for-improved-and-sustained-value\/","title":{"rendered":"#: GlaxoSmithKline defends itself against activist Elliott, recognizing need for \u2018improved and sustained value\u2019"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a27fbe46f367\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a27fbe46f367\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/glaxosmithkline-defends-itself-against-activist-elliott-recognizing-need-for-improved-and-sustained-value\/#Pharma_giant_responds_to_attack_from_US_activist_fund_Elliott_backing_CEO_Emma_Walmsley\" >Pharma giant responds to attack from U.S. activist fund Elliott, backing CEO Emma Walmsley<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/glaxosmithkline-defends-itself-against-activist-elliott-recognizing-need-for-improved-and-sustained-value\/#Jack_Denton\" >Jack Denton<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#: GlaxoSmithKline defends itself against activist Elliott, recognizing need for \u2018improved and sustained value\u2019<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Pharma_giant_responds_to_attack_from_US_activist_fund_Elliott_backing_CEO_Emma_Walmsley\"><\/span>\n  Pharma giant responds to attack from U.S. activist fund Elliott, backing CEO Emma Walmsley<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000324500\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000324500\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       GlaxoSmithKline<br \/>\n        GSK,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/200381158\/delayed\" class=\"positive\">+0.06%<\/bg-quote><br \/>\n       has issued a formal response to investor Elliott Management\u2019s public letter this week calling for a shake-up of the pharmaceutical giant\u2019s board of directors and executive team.<\/p>\n<p> GSK, one of the U.K.\u2019s largest companies by market capitalization, backed its strategy and chief executive, Emma Walmsley, after the U.S. activist fund called on the group\u2019s board to launch a process that would put her future leading the company in jeopardy.<\/p>\n<div class=\"paywall\">\n       <strong>Read:<\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/Glaxo%20Will%20Face%20Investors%20Wednesday.%20Here%E2%80%99s%20What%20to%20Know.\" class=\"icon none\"> <\/a>Glaxo Will Face Investors Wednesday. Here\u2019s What to Know.<\/p>\n<p>The company\u2019s public response outlined that the directors and executive team \u201cfully recognize the need to deliver improved and sustained value for all shareholders,\u201d adding that the board \u201cstrongly believes Emma Walmsley is the right leader of New GSK and fully supports the actions being taken by her and the management team.\u201d<\/p>\n<p>GSK also reaffirmed its strategy to spin off the consumer healthcare business in mid-2022 \u2014 leaving a slimmed-down \u201cNew GSK\u201d \u2014 and more closely integrate its vaccines and pharma business, especially in the realm of research and development.\u00a0<\/p>\n<p><strong>Read: <\/strong>GlaxoSmithKline Just Announced a Dividend Cut. Why Its Stock Is Rising.<\/p>\n<p>It emerged that Elliott Management had taken a stake in GSK \u2014 which has markedly underperformed peers in terms of share-price performance over the last decade \u2014 in April. On Thursday, Elliott called on GSK to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>oint new independent directors with experience in biopharma and consumer healthcare ahead of the planned spinoff of GSK\u2019s consumer business in mid-2022. These new directors would also help lead a process to consider both internal and external candidates for the executive leadership of GSK and the new consumer health company, the investor suggested.<\/p>\n<p>The activist investor also pushed back on the integration of GSK\u2019s vaccines and pharmaceutical businesses, and said that it supports the proposed separation of the consumer health division. However, Elliott said that any strategic opportunity to sell the consumer business ahead of the planned spinoff \u201cshould be diligently pursued.\u201d<\/p>\n<p>Elliott\u2019s letter came a week after an investor event where Walmlsley outlined ambitious new targets to grow sales by more than 5% annually and profits by 10% each year until 2026. Shareholders had welcomed the update, with the stock price rising in kind.<\/p>\n<p>\u201cThe ambitions and plans communicated at the Investor Update follow a significant four-year corporate transformation to address historic longstanding issues that have affected GSK\u2019s performance,\u201d the letter from the board said. \u201cThese issues have been well recognized by the Board and the Executive team and include all of those identified in Elliott\u2019s letter.\u201d<\/p>\n<p>Shares in GSK rose near 1% in London trading.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Jack Denton\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Jack_Denton\"><\/span>Jack Denton<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-74F3-9499C7E15D22%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#: GlaxoSmithKline defends itself against activist Elliott, recognizing need for \u2018improved and sustained value\u2019&#8221; Pharma giant responds to attack from U.S. activist fund Elliott, backing CEO Emma Walmsley GlaxoSmithKline GSK, +0.06% has issued a formal response to investor Elliott Management\u2019s public letter this week calling for a shake-up of the pharmaceutical giant\u2019s board of directors&#8230;<\/p>\n","protected":false},"author":1,"featured_media":289372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-289371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/289371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=289371"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/289371\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/289372"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=289371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=289371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=289371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}