(Reuters) GSK named Burberry’s Julie Brown as its first-ever female chief financial officer on Monday, to take over from Iain Mackay, at a moment that the British drug maker is increasing the focus of its main business.
Mackay 60, Mackay will retire next year following her tenure as GSK’s finance chief for almost four years. The move comes shortly following GSK has dissolved its huge retail business Haleon and refocused its efforts on prescription medications and vaccines.
Brown who is also 60 will be joining GSK in April. She will begin her work in May. Brown has worked previously in the pharmaceuticals and health industry.
Related: Haleon says no to GSK and Pfizer’s requests for compensation for Zantac.
She was hired by Burberry in 2017 after a stint at medical product maker Smith & Nephew (LON: SN) and was a member of the board at Swiss drug maker Roche until September. 26 at which point she announced her intention to step out. She also worked in various financial roles in AstraZeneca (NASDAQ: AZN).
GSK’s shares rose by around 2 percent in the early hours of trading on Monday.
The appointment of Emma Walmsley as GSK’s chief executive officer, Brown’s appointment creates an unusual, all-female top management in an industry-leading British firm and a major global pharmaceutical company.
Brown will be paid a base salary of 900,00 pounds at GSK according to the company.
Related: GSK raises its full-year forecast following the consumer spin-off.
“Julie is an experienced CFO , with an extensive knowledge of the biopharma industry. We also share a deep desire for developing people as well as diversity, inclusion, and sustainable development,” the CEO Walmsley said in an announcement.
GSK has signed a number of multi-billion dollar contracts recently under the leadership of Mackay and Mackay, while GSK faces pressure to improve its pipeline of medicines following years of poor performance relative to its competitors.
The month of July was a success for GSK. GSK produced a solid second-quarter performancethat boosted its full-year outlook.
Sky News first reported Brown’s appointment on Saturday.
Burberry announced on Friday that Brown will step out as the company’s Chief Operating Officer and CFO in the month of April in order to assume a new role outside of the luxury sector.
Related: After the spin-off, Pfizer will leave GSK’s consumer health business.
