Activist hedge fund Elliott Management is reportedly calling GlaxoSmithKline's major investors to discuss whether the drugmaker's CEO, Emma Walmsley, is fit to run the company in the long term, Seeking Alpha reported May 30.
One of GlaxoSmithKline's top shareholders told the Daily Mail Elliott is concerned Ms. Walmsley lacks expert knowledge of the pharmaceutical industry, as she had never previously worked in it. Ms. Walmsley was a former executive at personal care company L'Oreal and spent 17 years there.
Elliott, which took a multibillion-pound stake in GlaxoSmithKline in April, will likely increase pressure on the drugmaker before a June 23 shareholder meeting during which Ms. Walmsley is expected to detail her growth plans, multiple sources to the Daily Mail.