With consumer health behind it, GSK taps AstraZeneca vet Julie Brown as CFO for R&D-focused future
26 Sep 2022
Vaccine
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Source: Endpts
Four years ago, Emma Walmsley recruited Iain Mackay from the banking world to become GSK’s CFO, spotlighting his “track record of driving cost, cash and capital allocation discipline to deliver strategy.” Now that he’s helped oversee the spinoff of GSK’s consumer health unit, Walmsley is turning to an industry veteran for his successor.
Julie Brown, a veteran of AstraZeneca who recently switched lanes to become Burberry’s chief operating and financial officer, will join GSK as CFO in April as Mackay retires.
The hire marks an industry first as Brown is the first woman to take up this role at GSK — and she’ll be working with Walmsley, the first woman CEO of a major pharma.
In conjunction with her appointment, Brown has stepped down from Roche’s board of directors, where she’s served and chaired the audit committee since 2016.
Walmsley paid tribute to Mackay by praising his “very significant role to help deliver the reshaping of GSK and to improve our operating and financial performance.”
But Brown will be coming in at a time the CEO promises to deliver on New GSK — with a slate of late-stage programs from both the pharma and vaccine groups, some picked up in recent bolt-on buyouts, poised to spur future growth — and her familiarity with the world of drugmaking is clearly a plus.
“Julie is a highly experienced CFO with a tremendous understanding of the biopharma sector,” she said. “We also share a strong passion for people development, diversity, inclusion and sustainability.”
Brown started her career at AstraZeneca in 1987, gradually climbing the ladder and ultimately reaching interim CFO and VP, group finance.
Her base salary coming in will be £915,335, GSK added, part of a compensation package that also includes the potential for an annual bonus, long-term incentives, shares, pension and other benefits.
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