GSK announces appointments to Designate Haleon Board

Demerger and listing of Haleon expected in July 2022

GlaxoSmithKline plc (GSK) (LSE/NYSE: GSK) today announced the appointment of six directors to the designate Board of Haleon, the new independent company to be formed following the demerger of the GSK Consumer Healthcare business, expected in July 2022.

Haleon will be a new global-leading company in Consumer Health, and is strongly positioned to deliver better everyday health, sustainable above-market growth and attractive returns to shareholders.

Appointments to Designate Haleon Board:

Manvinder Singh (Vindi) Banga will become Senior Independent Non-Executive Director. Vindi is currently Senior Independent Non-Executive Director of GSK.
Tracy Clarke will become an independent Non-Executive Director and Chair of the Remuneration Committee
Dame Vivienne Cox will become an independent Non-Executive Director. Vivienne is currently an independent Non-Executive Director at GSK.
Deirdre Mahlan will become an independent Non-Executive Director and Chair of the Audit & Risk Committee.
John Young has been nominated as a Non-Executive Director by Pfizer as one of its two appointees under our joint venture arrangements. John is currently a director of the GSK/Pfizer Consumer Healthcare Joint Venture company.
Tobias Hestler, CFO Designate, Haleon, will become an Executive Director.
Sir Dave Lewis, Chair Designate, Haleon, said: “We are delighted to be welcoming Vindi, Tracy, Vivienne, Deirdre and John as Non-Executive Directors to the future Board of Haleon. Together they bring considerable Board experience to support Haleon as a publicly listed company. They will also add in-depth understanding of the global consumer sector, with particular experience operating in the US, China, India and Europe. This is a significant step forward in creating the Haleon Board. We will look to add three more directors in due course. Two will be non-executives with relevant innovation and Asia experience and the third will be an additional non-executive nominated by Pfizer. It is an exciting time for everyone at Haleon and I look forward to working with new board colleagues to support Brian and his team to unleash the potential of this unique business.”

As previously stated, and building on recent non-executive appointments, further appointments to the GSK Board are also expected prior to the demerger. These appointments will reflect the appropriate skills and experience required for GSK’s new status as a focused biopharmaceutical company.

Vindi, Tracy, Vivienne and Deidre are expected to be determined to be independent Non-Executive Directors of Haleon. Each Non-Executive Director will have a Letter of Appointment and details of their fees will be provided in the Prospectus published before demerger.

Tracy is an experienced remuneration committee chair and non-executive director. Her prior non-executive roles include Chair of the Remuneration Committees of Sky plc and Eaga plc and Non-Executive Director and Remuneration Committee member of Inmarsat plc. She has also served on the boards of the China Britain Business Council and TheCityUK.

Dame Vivienne Cox

Vivienne is currently an independent Non-Executive Director, and Workforce Engagement Director at GSK.

Vivienne has wide experience of business gained in the energy, natural resources and publishing sectors. She also has a deep understanding of regulatory organisations and government. Vivienne worked for BP plc for 28 years, in Britain and Continental Europe, in posts including Executive Vice President and Chief Executive of BP’s gas, power and renewable business and its alternative energy unit. Vivienne was previously a Non-Executive Director of BG Group plc and Rio Tinto plc, the Senior Independent Director of Pearson plc, Chairman of the Supervisory Board of Vallourec and the Lead Independent Director at the UK Government’s Department for International Development.

Tobias Hestler

Tobias was appointed CFO Designate of Haleon in December 2021, having been CFO of the division since 2017. Prior to joining GSK, Tobias was the Chief Financial Officer at Sandoz – Novartis’ Generics Division. In 2010, he was named Chief Financial Officer for the former Novartis Consumer Health Division, a position that evolved into Tobias’ role as CFO for the Novartis OTC division. Earlier in his career he held both local and global finance leadership roles at Novartis in the US, Germany and Switzerland, including as Global Head of Finance for the Animal Health business, Global Controller for Sandoz and CFO for Hexal.

Deirdre Mahlan

Deirdre is Chair of the Audit Committee at Experian plc, Non-Executive Director at Kimberly-Clark Corporation and Chair of the Audit Committee of The Duckhorn Portfolio, Inc.

Deirdre has deep finance and consumer product experience and is a qualified accountant. She held a number of senior finance and general management roles over her 27 year career at Diageo, including President of Diageo North America, Chief Financial Officer, Deputy Chief Financial Officer, Head of Tax and Treasury at Diageo plc, Senior Vice President, Chief Financial Officer at Diageo North America, and Vice President of Finance at Diageo Guinness USA. She has also held various senior finance roles in Joseph Seagram and Sons, Inc. and PwC.

John Young

John has had an extensive career at Pfizer over 34 years. He is currently the Group President and Special Adviser to the CEO of Pfizer following his previous role as Chief Business Officer where he played an important role in cultivating the collaborations that led to the successful development and delivery of the Pfizer-BioNTech COVID-19 vaccine. John has led many large-scale transformations, including the closing of the joint venture with GSK to create a premier global consumer healthcare business in 2019. John has extensive healthcare, commercial and international experience.

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