A well-groomed 'inside-outsider' – GSK's new CEO, Emma Walmsley

GlaxoSmithKline’s decision to appoint Emma Walmsley as chief executive is a clear commitment to past strategy but an acknowledgement that a fresh, and arguably more commercially astute, approach is required to return the company to growth.

Walmsley represents an insider with an established internal track record of success and an understanding of how to get things done, but with a valuable external point of view on the weaknesses of the pharmaceuticals business gained through experiences at L’Oreal and latterly as the leader of GSK’s consumer healthcare division where she has been since 2010.

The choice of an insider signals renewed commitment to the volume-first growth strategy launched by GSK in 2015, a plan borne out of a belief that the current sky-high pricing model in pharmaceuticals is unsustainable in the long run. Industry analysts and investors were initially critical, especially given GSK’s recent performance, but the mood has warmed to the notion that large volume sales in vaccines and over the counter (OTC) products offer an attractive revenue cushion to the more risk-reward pharma division.