GSK CEO Emma Walmsley poised for £21.6m pay increase

GSK is proposing a significant pay increase for CEO Emma Walmsley, potentially raising her total compensation to £21.6 million to align with US standards. A review indicated that her current pay is considerably lower than her peers in the global biopharma sector, placing her compensation in the lower quartile of a newly benchmarked group. Since taking the helm in 2017, Walmsley has led GSK through major strategic shifts, including the spin-off of its consumer healthcare division, Haleon. The proposed salary adjustments aim to attract and retain top talent amid increasing competition, as UK pharmaceutical companies seek to match executive pay with their US counterparts. While GSK's performance has improved, including a bullish revenue outlook, its share price has seen a decline in the past year. The remuneration changes reflect a broader trend among UK firms to adopt US-style executive compensation packages, facing some pushback from shareholders in the past.