Ac­tivist El­liott be­gins its long-await­ed at­tack on CEO Em­ma Walm­s­ley and a Glax­o­SmithK­line that has 'lost its way'

Af­ter months of mar­ket ru­mors and spec­u­la­tion, ac­tivist in­vestor El­liott has be­gun its as­sault on CEO Em­ma Walm­s­ley with a lengthy man­i­festo on the need for a shake­up at the top — start­ing with a new board. And there’s al­so some free ad­vice: Be sure you can im­par­tial­ly re­view a po­ten­tial sale of the con­sumer health group.

Walm­s­ley her­self isn’t men­tioned by name in the let­ter, but her 4-year track record at the top was ex­am­ined by the ac­tivist, which has re­port­ed­ly ac­quired a large chunk of stock, and found want­i­ng.

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