20th Dec 2021 09:19
(Alliance News) - GlaxoSmithKline PLC on Monday announced the appointment of Dave Lewis as chair designate of the new consumer healthcare company which is due to be demerged from the pharmaceutical group with effect on January 1.
Brentford, England-based Glaxo said that its consumer healthcare business, which was formed in August 2019 as a joint venture with Pfizer Inc, is set to take a premium listing on the London Stock Exchange in mid-2022.
GSK holds a 68% interest in the consumer healthcare arm, and Pfizer the remaining 32%.
The demerger will be exercised by the disposal of 80% of GSK's holding in the consumer healthcare business to shareholders.
Lewis was chief executive officer of supermarket chain Tesco PLC for six years from 2014 to 2020.
In July, Glaxo had announced the appointment of Brian McNamara as CEO-designate of the consumer healthcare business.
"I am delighted to welcome Dave as chair designate of the new Consumer Healthcare company. He brings outstanding global consumer and retail sector experience that will be of valuable support to Brian and the management team as they deliver the full potential of this new world-leading Consumer Healthcare company," said GSK Chair Jonathan Symonds.
Shares in GlaxoSmithKline were down 2.2% at 1,577.20 pence on Monday in London.
By Dayo Laniyan; [email protected]
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