GSK stock jumped back into a buy zone Monday after announcing Chief Executive Emma Walmsley will step down at the end of the year.
She will be succeeded by Luke Miels, the current chief commercial officer. Prior to joining GSK in 2017, Miels has worked across the globe at AstraZeneca, Roche and Sanofi.
Walmsley has led GSK for nine years and says it's time to hand the reins over to someone new.
"2026 is a pivotal year for GSK to define its path for the decade ahead, and I believe the right moment for new leadership," she said in a statement. "As CEO, you hope to leave the company you love stronger than you found it and prepare for seamless successful. I'm proud to have done both,"
GSK stock rose 3.1% to 41.10, topping a buy point at 40.57 out of a cup-with-handle base. Shares first broke out on Sept. 5, but have yo-yoed at the lower boundary of the chase zone. On Friday, GSK stock closed below that key mark.
Haleon Demerger, 'Major New Products'
During her tenure, Walmsley separated the consumer health unit into its own company, Haleon. The company also began focusing on specialty medicines and vaccines, and delivered "multiple major new products," according to GSK's news release.
"R&D has been reinvigorated during her tenure, with 15 major pipeline opportunities now set to launch in 2025-31," GSK said. "At the same time, GSK's balance sheet has been strengthened."
GSK stock has risen more than 16% this year, but remains slightly off its 2025 intraday high at 45.93, achieved in May.
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