UPDATED: 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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