From cosmetics to drugs to PCs, Walmsley faces fresh outsider test at HP

Emma Walmsley, the former chief executive of GSK, has taken on a new role as the CEO of HP Inc. The company appointed her in a bid to leverage her experience in managing a large global corporation to navigate the current industry downturn, supply-chain disruptions, and rising component costs. Walmsley, who has a history of implementing major transformations and making decisions that benefit shareholders, expressed her openness to challenge and shift her thinking if the facts change.

Previously, Walmsley led GSK from 2017 until December 2025, overseeing the separation of its consumer healthcare business, now called Haleon. Her tenure at GSK was marked by challenges, particularly in the area of late-stage drug development. Walmsley's departure from GSK in September 2025 was announced after the CEO of the company's commercial operations, Luke Miels, took over as her successor.

Walmsley's transition from the pharmaceutical industry to HP Inc. marks a significant change. However, she has previously held management and marketing roles at L'Oréal, a French cosmetics giant, for 17 years before joining GSK. Her experience in the cosmetics industry, coupled with her involvement in AI at GSK, could prove valuable as HP explores AI-enabled PCs and other personal devices.

One immediate challenge that Walmsley will face at HP is the soaring prices of memory chips, which are increasing costs for PC makers and threatening to raise prices. Her first priority will not be AI, but rather dealing with these memory costs.