By Sabela Ojea

GlaxoSmithKline PLC said Thursday that it has appointed Brian McNamara as the new chief executive designate of Consumer Healthcare Co., the company that will result from the proposed demerger of Consumer Healthcare from GSK in 2022.

The British pharmaceutical major said the separation of Consumer Healthcare will be made through a demerger in mid-2022 of at least 80% of GSK's holding to shareholders.

A formal process to appoint a chair and to form a board of directors for the new consumer health company is expected for the second half of the year, the London-listed company said.

"This new Board will include the appropriate mix of skills, experience, diversity and continuity, relevant to Consumer Health, to represent and maximize the value of this new business for shareholders," GlaxoSmithKline said.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

July 22, 2021 10:15 ET (14:15 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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