GlaxoSmithKline Pharmaceuticals Limited has issued a Postal Ballot Notice to shareholders seeking approval for two director appointments under SEBI Regulation 30. The notice is being sent electronically to shareholders whose email addresses are registered with the company/depositories as of the cut-off date of Friday, 7th August 2026.

Resolution Details

Resolution 1: Appointment of Ms. Karine J F Natland as Non-Executive Director

  • Ms. Karine J F Natland (DIN: 11870917) was appointed as Additional Director by the Board effective 4th August 2026 under Section 161 of the Companies Act, 2013
  • She currently serves as SVP Asia Pacific (APAC) at GSK, leading product strategy for the General Medicines business
  • She holds an executive dual MBA from Norwegian School of Management and ECSP, Paris, and a bachelor's degree in pharmacy from Norway
  • She has previous experience at Organon as SVP and Regional President for Asia Pacific, and various leadership roles at Merck and MSD
  • She does not hold any shares in the company and has no relationship with other directors/KMPs
  • The company has received a notice from a member under Section 160 proposing her candidature

Resolution 2: Re-appointment of Mr. Bhushan Akshikar as Managing Director

  • Mr. Bhushan Akshikar (DIN: 09112346) is proposed for re-appointment as Managing Director for two years from 1st December 2026 to 30th November 2028
  • He currently serves as Managing Director since 2022 and has over 30 years of pharmaceutical industry experience
  • He holds an MBA in Marketing from SPJIMR and a Bachelor's degree in Pharmaceutical Sciences from University of Pune
  • He is a director of Biddle Sawyer Limited and member of Stakeholders Relationship Committee and CSR Committee
  • His remuneration for FY2026 was ₹11.36 Crores

Remuneration Terms for Managing Director

  • Basic Salary: Not exceeding ₹24,00,000 per month
  • Performance Bonus: Up to 100% of salary based on business performance metrics (Innovation Sales, Sales, Profit, Cashflow)
  • Long-term Incentive Plans: Participation in GSK Group share value plans, option plans, and performance shares plans
  • Perquisites: Rent-free accommodation or HRA up to 50% of salary, medical reimbursement, LTA, club fees (max 2 clubs), personal accident insurance
  • Total perquisites restricted to 2.5 times annual salary
  • Provident Fund, Pension Fund, and gratuity benefits as per company rules
  • 32 days annual leave entitlement
  • Company-provided car with driver for business use

Voting Process

  • E-voting period: Friday, 14th August 2026 (9:00 AM IST) to Sunday, 13th September 2026 (5:00 PM IST)
  • Scrutinizer: P.N. Parikh of Parikh & Associates (with Jigyasa Ved as alternate)
  • Results declaration: On or before Tuesday, 15th September 2026
  • Results will be submitted to BSE Limited and National Stock Exchange of India Limited
  • Results will be displayed on company website and KFintech website

Shareholder Information

  • Voting rights proportional to shareholding as of 7th August 2026 cut-off date
  • Individual shareholders in demat mode can vote through NSDL/CDSL platforms
  • Physical shareholders and non-individual shareholders vote through KFintech platform
  • Corporate shareholders must email board resolution copies to scrutinizer