# GSK picks Burberry’s Brown as first female CFO Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2022-09-26 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: GSK Names Julie Brown as First Female CFO, Signals Focus on Meta Description: GSK appoints Julie Brown as its first female CFO, succeeding Iain Mackay. Brown brings extensive healthcare experience to focus on pharmaceuticals. URL: https://financedigest.com/gsk-picks-burberrys-brown-as-first-female-cfohtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2022-09-26t061355z2lynxmpei8p05hrtroptp4gsk-cfo-1736815153275-compressed.jpg) By Amna Karimi and Pushkala Aripaka (Reuters) -GSK named luxury fashion brand Burberry’s Julie Brown as its first ever female chief financial officer on Monday to succeed Iain Mackay, as the British drugmaker sharpens focus on its core pharmaceuticals business. Mackay, 60, will be retiring next year after serving as GSK’s finance chief for nearly four years, following an eight-year stint as group finance director at the bank HSBC. The retirement, which has been in discussion for some time, comes after GSK’s spin off of its large consumer [health business](https://www.financedigest.com/why-investing-in-employee-health-can-be-good-for-business.html "Why investing in employee health can be good for business"), Haleon, in July to focus on prescription drugs and vaccines. Brown, also 60, will join GSK in April and take up the job in May. She has extensive experience in the [health and pharmaceutical](https://www.financedigest.com/the-animal-health-active-pharmaceutical-ingredients-market-to-subvert-monotony.html "The Animal Health Active Pharmaceutical Ingredients Market to subvert monotony") industry. [Investors may be surprised to see](https://www.financedigest.com/analysis-weary-investors-see-little-respite-to-fed-hike-gloom.html "Analysis-Weary investors see little respite to Fed hike gloom") Iain Mackay’s retirement after only a few years in the role and the announcement coming only months after announcing the departure of head of R&D Hal Barron, J.P. Morgan analysts wrote in a note. Post the recent separation of the consumer health business, there may have been a desire to [increase Healthcare experience](https://www.financedigest.com/fintechs-how-to-increase-loyalty-through-user-experience-and-fraud-prevention.html "FinTechs: How to increase loyalty through user experience and fraud prevention") in GSK’s management team,” they wrote. Brown joined Burberry in 2017 from medical [products maker Smith & Nephew and was a board member at Swiss drugmaker Roche](https://www.financedigest.com/roche-flags-2023-earnings-decline-on-slump-in-covid-products.html "Roche flags 2023 earnings decline on slump in COVID products") until Sept. 26 when she stepped down. She also served in several finance roles at AstraZeneca, which last [year also appointed a female CFO](https://www.financedigest.com/2017-cfo-outlook-top-priorities-as-new-year-gets-underway.html "2017 CFO Outlook: Top Priorities as New Year Gets Underway"), Aradhana Sarin. With Emma Walmsley as GSK’s [chief executive officer](https://www.financedigest.com/iris-software-group-names-matt-tuson-as-chief-revenue-officer.html "IRIS Software Group names Matt Tuson as Chief Revenue Officer"), Brown’s appointment also creates a rare, all-female top management at a blue-chip British company and a global pharma major. Brown will receive an [annual base salary of more than 900,000 pounds](https://www.financedigest.com/average-annual-uk-food-bill-set-to-rise-454-pounds-as-inflation-soars.html "Average annual UK food bill set to rise 454 pounds as inflation soars") at GSK, the company said. Julie is a highly experienced CFO with a tremendous [understanding of the biopharma sector](https://www.financedigest.com/how-data-visualisation-is-helping-the-insurance-sector-understand-environmental-risks.html "How data visualisation is helping the insurance sector understand environmental risks"). We also [share a strong](https://www.financedigest.com/asia-shares-slip-dollar-strong-as-yuan-weakens.html "Asia shares slip, dollar strong as yuan weakens") passion for people development, diversity, inclusion and sustainability,” CEO Walmsley said in a statement. GSK has struck several multi-billion [dollar deals](https://www.financedigest.com/incentive-fm-secures-new-deal-with-dollar-uk.html "Incentive FM Secures New Deal with Dollar UK") recently under Mackay to shore up its drug pipeline after years of underperformance relative to its peers. [Investors are also wary of the potential](https://www.financedigest.com/virgin-orbit-says-space-startup-in-talks-with-potential-investors.html "Virgin Orbit says space startup in talks with potential investors") for billions in damages that may arise from U.S. litigation over the heartburn [drug Zantac which was originally marketed by a forerunner of GSK](https://www.financedigest.com/gsk-bets-2-billion-on-bellus-cough-drug-to-soothe-pipeline-fears.html "GSK bets billion on Bellus cough drug to soothe pipeline fears"), and has been sold by several companies at different times, including Pfizer, Boehringer Ingelheim and Sanofi as well as a plethora of generic drugmakers. In July, GSK delivered a strong second-quarter performance, boosting its [full-year forecast](https://www.financedigest.com/reckitt-lifts-full-year-forecast-as-mobility-vaccinations-pick-up.html "Reckitt lifts full-year forecast as mobility, vaccinations pick up"). [Sky News first reported](https://www.financedigest.com/australias-macquarie-explores-6-billion-deal-for-britains-mg-sky-news-reports.html "Australia’s Macquarie explores billion deal for Britain’s M&G, Sky News reports") Brown’s appointment on Saturday. [(Reporting by Amna Karimi and Pushkala Aripaka in Bengaluru and Natalie Grover in London; Editing by Subhranshu Sahu, Louise Heavens and Ana Nicolaci da Costa)](https://www.financedigest.com/london-reclaims-place-as-preeminent-global-financial-centre-for-the-first-time-since-2013-according-to-global-regulatory-outlook-report-from-duff-phelps.html "London reclaims place as preeminent global financial centre for the first time since 2013, according to Global Regulatory Outlook report from Duff & Phelps") --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---