GlaxoSmithKline Pharmaceuticals shareholders approved two ordinary resolutions via postal ballot on September 13, 2026. The votes confirmed the appointment of a new non-executive director and the re-appointment of the managing director.

The company conducted remote e-voting through KFin Technologies Limited from August 14, 2026, to September 13, 2026. P. N. Parikh of Parikh & Associates served as the scrutinizer for the process.

Voting Results

Shareholders voted overwhelmingly in favor of both resolutions. The promoter group, holding 127,054,524 shares, cast all its votes in favor of both appointments.

Ms. Karine J F Natland (DIN: 11870917) was appointed as a Non-Executive Director. Mr. Bhushan Akshikar (DIN: 09112346) was re-appointed as Managing Director.

Shareholder Participation

The total shares eligible for voting were 169,406,034. Approximately 84.7% of these shares were polled for both resolutions. Institutional holders participated actively, voting 97.45% in favor of Natland’s appointment and 97.46% in favor of Akshikar’s re-appointment.

What the Numbers Show

Promoter support was absolute, with 100% of the promoter group’s 127 million shares voting in favor. This contrasts with retail participation, where only 0.48% of public-other shares were polled, though those voted showed strong approval rates above 95%.

The voting results and scrutinizer report are available on the company website and the KFinTech portal. Ajay Nadkarni, Vice President – Administration, Real Estate & Company Secretary, certified the results.

GlaxoSmithKline Pharmaceuticals Limited has initiated a postal ballot process to secure shareholder approval for key leadership transitions, including the re-appointment of its Managing Director and the addition of a new Non-Executive Director to its board.

The company’s Board of Directors approved the resolutions on August 3, 2026. Shareholders will vote via remote e-voting between August 14 and September 13, 2026. The results are expected to be announced by September 15, 2026.

Leadership Changes

The ballot seeks approval for two ordinary resolutions:

• Appointment of Karine J F Natland: Ms. Natland, currently SVP Asia Pacific at GSK, was appointed as an Additional Director on August 4, 2026. She will serve as a Non-Executive Director liable to retire by rotation. She brings over 20 years of experience in the pharmaceutical industry, having previously held senior roles at Organon, Merck & Co, and MSD.

• Re-appointment of Bhushan Akshikar: Mr. Akshikar, who has served as Managing Director since 2022, is set for re-appointment for a two-year term from December 1, 2026, to November 30, 2028. He has been with GSK since 2011 and previously spent 15 years with Johnson & Johnson.

Remuneration Structure

Mr. Akshikar’s proposed remuneration package includes a basic salary not exceeding ₹2.4 crore per month. His total compensation also comprises:

• A performance bonus capped at 100% of his salary, based on innovation sales, sales, profit, and cash flow.
• Long-term incentives including share value plans, share option plans, and performance shares.
• Perquisites such as rent-free accommodation or house rent allowance up to 50% of monthly salary, medical insurance, and club fees.

The aggregate value of perquisites and allowances is restricted to 2.5 times his annual salary. As of March 31, 2026, Mr. Akshikar’s total remuneration stood at ₹11.36 crore.

Voting Process

The e-voting facility is provided by KFin Technologies Limited. Only shareholders registered in the Register of Members or Depositories as of the cut-off date, August 7, 2026, are eligible to vote. P.N. Parikh of Parikh & Associates has been appointed as the Scrutinizer to ensure a fair and transparent voting process.

Key Dates

Ms. Natland holds an executive dual MBA from the Norwegian School of Management and ECSP, Paris, and a bachelor’s degree in pharmacy. Mr. Akshikar holds an MBA in Marketing from SPJIMR and a bachelor’s degree in Pharmaceutical Sciences from the University of Pune.