Subscribe Login
DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
A-Brands

Former Tesco Boss Lewis To Chair GSK Health Spin-Off

GlaxoSmithKline has named former Tesco chief executive Dave Lewis as non-executive chair designate of a new Consumer Healthcare company set to be created from a proposed demerger from GSK in 2022.

It said Lewis' appointment would take effect from January 1.

GSK set out a plan in June, subject to shareholder approval, to separate its Consumer Healthcare business by way of a demerger in mid-2022 of at least 80% of its holding to shareholders.

The division generates annual sales of more than £10 billion (€11.7 billion).

“GSK Consumer Healthcare is a world-class business with significant prospects and a high-quality leadership team," Lewis commented.

"I am looking forward to being part of its exciting future as an independent company and the very positive impact it can have on people’s health all over the world.”

Lewis At Tesco

Tesco was in a difficult position after Lewis joined in 2014, when an accounting scandal knocked millions of pounds off its profits and billions off its share price.

He left in October 2020, having declared Tesco's turnaround complete, with its position once again reinforced as the clear market leader among Britain's supermarkets. He was ennobled earlier this year.

Lewis joined Tesco from consumer goods group Unilever where he was nicknamed 'Drastic Dave' after fixing businesses through cost cutting and innovative marketing.

He has also served on the board of Sky and is currently a director of PepsiCo.

Supply Chain Advisor

Since October, Lewis has been the UK government's supply chain advisor, tasked with fixing supply issues which have hit the British economy.

In July, GSK appointed Brian McNamara as CEO designate of the new Consumer Healthcare company.

News by Reuters, edited by ESM. For more A-Brands stores, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days