GSK begins to staff the board of its potential consumer healthcare spinoff

GlaxoSmithKline plc (GSK) (LSE/NYSE:GSK) is gearing up for the demerger of its consumer healthcare business, which it anticipates will be complicated in July.

The company announced that it had enlisted six new directors to the designate board of the spinoff, which will be known as Haleon.

In addition to Sir Dave Lewis, whom the GSK named as chair designate in December 2021, GSK has named the following to the Haleon board:

• Manvinder Singh (Vindi) Banga will be a senior independent non-executive director. Banga is now a senior independent non-executive director of GSK.
• Tracy Clarke will be an independent non-executive director and chair of the remuneration committee.
• Dame Vivienne Cox will be an independent non-executive director, now an independent non-executive director at GSK.
• Deirdre Mahlan will join as an independent non-executive director and chair of the audit and risk committee.
• John Young will be a non-executive director under a joint venture arrangement with Pfizer. Young is now the GSK/Pfizer consumer healthcare joint venture company.
• Tobias Hestler will be the chief financial officer (CFO) of Haleon and an executive director.

GSK plans on naming three more roles to the Haleon board in the near future.

GSK notes that the Haleon demerger is subject to approval from company shareholders.