GSK announced Monday that CFO Iain Mackay will retire next year and be replaced by Julie Brown, the pharma company’s first female CFO.
Brown, who will join GSK in April 2023, currently serves as COO and CFO at Burberry Group. Mackay will remain with the company to assist with the transition. Brown will assume her new responsibilities as CFO and an executive director on May 1, 2023.
Despite her most recent role in the world of luxury fashion, Brown has experience in the pharma and biotech industries. She previously worked at AstraZeneca, Smith & Nephew. And served as a non-executive director and audit chair of Roche Holding AG.
GSK CEO Emma Walmsley praised Mackay’s tenure overseeing the British pharma giant’s financial performance while welcoming Brown to the organization.
“I am absolutely delighted that Julie will be joining the leadership team as his successor. Julie is a highly experienced CFO with a tremendous understanding of the biopharma sector. We also share a strong passion for people development, diversity, inclusion and sustainability. I am looking forward to working together to deliver progress for patients, shareholders and our people.”
Beyond Brown’s appointment, GSK has had a busy few days.
One week ago, Theravance Biopharma announced that its board of directors authorized a $250 million capital return program to purchase GSK’s equity stake in the company.
A day later, Haleon released its first earnings report since the consumer health unit split from GSK over the summer. The newly independent company reported revenue growth of 13.4% in H1 2022, totaling £5.19 billion.
On Thursday, GSK announced that it reached a $66 million exclusive license agreement for Spero Therapeutics’ late-stage antibiotic asset, Tebipenem HBr. GSK Chief Commercial Officer Luke Miels said that despite setbacks Tebipenem experienced earlier this year, the drug has a “clear US FDA regulatory path to potential approval” that could help patients with complicated cases of UTIs.