GSK has appointed a new boss after announcing the departure of Dame Emma Walmsley following eight years at the helm of the drugmaker.
Dame Emma was the first woman to run a major pharmaceutical company when she became chief executive in 2017.
The FTSE 100-listed business said its chief commercial officer Luke Miels will take on the full responsibilities of the top job from the start of 2026.
Mr Miels has worldwide responsibility for medicines and vaccines in his current position.
GSK shares rose by about 3.5% on Monday morning as investors welcomed the announcement, bringing the price to a three-month high.
Dame Emma led GSK through the pandemic and the development of new products launched to the market.
She also oversaw the spin-off of its consumer healthcare firm Haleon in 2022, which owns household products including Sensodyne toothpaste and Panadol pain relief.
The decision to demerge the business came after a period of intense pressure with investors urging the boss to focus on its core drug-making operation.
GSK’s board publicly backed Dame Emma as the “right leader of new GSK” after questions were raised over whether she had the “skillsets and expertise” to lead the company through the major transformation.
On her departure, Dame Emma said: “2026 is a pivotal year for GSK to define its path for the decade ahead, and I believe the right moment for new leadership.
“As CEO, you hope to leave the company you love stronger than you found it and prepare for seamless succession.
“I’m proud to have done both – and to have created Haleon, a new world-leader in consumer health.”
She added that she was looking forward to “cheering GSK’s future success as I begin my own new adventures”.
GSK’s chairman Sir Jonathan Symonds said Mr Miels had a “deep understanding of the company, its prospects and its people”.
He added: “He is extremely well placed to lead, deliver and surpass the ambitions we have set for GSK, and to generate new growth and value for patients and shareholders.”
In his new role, Mr Miels will have a base salary of £1.38 million as well as the opportunity to earn an annual bonus worth up to three times his salary and long-term incentive awards.
Dame Emma will step down from the company board at the end of 2025, and remain with the business until her notice period at the end of September 2026.
