Burberry Finance Chief Joins GSK As First Woman CFO

Burberry Finance Chief Joins GSK As First Woman CFO
  • GSK plc GSK has appointed Julie Brown as its first-ever female chief financial officer to succeed Iain Mackay.
  • Mackay, 60, will retire next year after serving as GSK's finance chief for nearly four years.
  • Julie will join GSK in April 2023 and will work with Iain to transition responsibilities, taking responsibility as CFO and as an Executive Director of GSK on 1 May 2023.
  • Ms. Brown currently serves as Chief Operating and Financial Officer at the luxury fashion brand Burberry Group plc BURBY BBRYF. Julie has previously worked at AstraZeneca plc AZN and Smith & Nephew plc SNN as a non-executive director and Audit Chair of Roche Holdings AG.
  • Also Read: Haleon Shares Pop After Rejecting Zantac Indemnification Requests From GSK, Pfizer.
  • Mackay's retirement, which has been in discussion for some time, comes after GSK's spin-off of its large consumer health business, Haleon Plc HLN, in July to focus on prescription drugs and vaccines.
  • Investors may be surprised to see Iain Mackay's retirement after only a few years in the role and the announcement coming only months after announcing the departure of head of R&D Hal Barron, Reuters quoted citing J.P. Morgan note.
  • "Post the recent separation of the consumer health business, there may have been a desire to increase Healthcare experience in GSK's management team," they wrote.
  • Price Action: GSK shares are down 0.75% at $29.14 during the premarket session on the last check Monday.

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