(Adds GSK comment, background)
July 2 (Reuters) - GSK's board on Friday rejected
Elliott's demands that the British company change its management
and sell its consumer healthcare arm after separating it from
its pharma business, a day after the activist investor's
strongly worded proposals.
"The Board strongly believes Emma Walmsley is the right
leader of New GSK and fully supports the actions being taken by
her and the management team," GSK said on Friday, adding that
talks with its largest shareholders showed they were confident
in GSK's strategy and leadership.
In a letter to the GSK board, Elliott on Thursday said GSK
should review its leadership and consider a sale of its consumer
healthcare business as it confirmed its stake in the
pharmaceuticals group.
(Reporting by Pushkala Aripaka in Bengaluru
Editing by David Goodman, Kirsten Donovan)
Glaxosmithkline (GSK)