(Adds GSK statement, details on Bluebell)
Sept 22 (Reuters) - Activist investor Bluebell Capital
Partners has taken a stake worth about 10 million euros in
British pharmaceuticals group GlaxoSmithKline in efforts
to shake up top management, a Financial Times report https://www.ft.com/content/539c077d-6ac2-4e79-9e0f-8080a31c5530
said on Wednesday.
Bluebell said in a letter to GSK Chairman Jonathan Symonds
that chief executive Emma Walmsley should reapply for her job as
she would have “renewed credibility both internally and
externally”, the FT report said.
Earlier this year, activist Elliott had also taken a stake
in GSK, calling for a leadership change at the company. Bluebell
was largely backing Elliott's demands, the FT said.
GSK confirmed Bluebell had made demands in a letter.
"We continue to engage extensively with our shareholders
with over 500 meetings so far this year," GSK said in a
statement.
"They have expressed widespread and strong support for our
plans to deliver a step-change in growth and performance, and
given clear direction to focus on execution," the company added.
The British pharma major, with a market value of over 71
billion pounds ($96.95 billion), in July rejected Elliott's
demands to change its board and sell its consumer healthcare
arm.
GSK has set out plans to turn its consumer healthcare arm
into a separately listed company, in a move that will deliver an
8 billion pound windfall and other financial benefits to boost
drug development at its underperforming pharma
business.
Bluebell was part of a successful investor campaign to oust
Danone chairman and chief executive Emmanuel Faber in
March.
($1 = 0.7323 pounds)
(Reporting by Aditi Sebastian in Bengaluru and Ludwig Burger in
Frankfurt. Editing by Jane Merriman)
Glaxosmithkline (GSK)