Haleon plc (LSE/NYSE: HLN), a global consumer health company, disclosed today that Alan Stewart has resigned from its board of directors. Stewart’s departure was effective as of Sunday, September 26, 2024, as reported in compliance with the Listing Rules.
The announcement was made through a Form 6-K filing with the U.S. Securities and Exchange Commission. The filing, dated today, did not specify the reasons for Stewart’s resignation from the board. Alan Stewart also stepped down from the board of Diageo (LON:) plc, a multinational beverage alcohol company, on the same date.
Haleon, formerly known as DRVW 2022 Ltd, is known for its extensive portfolio in consumer health products, including well-known brands such as Advil, Sensodyne, and Centrum. The company focuses on oral health, pain relief, respiratory health, and digestive health, as well as vitamins, minerals, and supplements.
The company, headquartered in Weybridge, Surrey, operates under the industrial classification of perfumes, cosmetics, and other toilet preparations. It has not provided further details regarding the appointment of a successor or the impact of Stewart’s departure on its operations.
This news comes as part of a standard regulatory disclosure and is based on a press release statement. The information is intended to keep investors and the public informed of significant changes within the company’s leadership.
In other recent news, Haleon plc has been active in strategic transactions and financial maneuvers. The company finalized a £230 million share purchase from Pfizer (NYSE:), completing its £500 million share buyback program for 2024 and securing shares for its 2025 employee share plans.
Haleon also divested its nicotine replacement therapy business outside the United States to Dr. Reddy’s Laboratories SA in a deal worth up to £500 million and increased its equity stake in Chinese joint venture, Tianjin TSKF Pharmaceutical Co. Ltd, to 88%.
Morgan Stanley and BofA Securities have upgraded Haleon’s stock price target, Goldman Sachs downgraded it from “Buy” to “Neutral,” and Berenberg initiated coverage with a “Buy” rating. The company launched Eroxon®, the first FDA-cleared over-the-counter gel for the treatment of erectile dysfunction in the United States, and welcomed new board members Alan Stewart and Nancy Avila. These are recent developments in Haleon’s operations.
InvestingPro Insights
As Haleon plc navigates this change in its board of directors, it’s worth examining some key financial metrics and insights provided by InvestingPro. The company’s market capitalization stands at an impressive $47.3 billion, reflecting its significant presence in the global consumer health market.
InvestingPro Tips highlight Haleon’s impressive gross profit margins, which is evident in the data showing a gross profit margin of 62.54% for the last twelve months as of Q2 2024. This robust margin underscores the company’s strong position in the consumer health products market, particularly with its well-known brands like Advil and Sensodyne.
Another InvestingPro Tip notes that the stock generally trades with low price volatility, which could be appealing to investors seeking stability. This characteristic is further supported by the company’s moderate level of debt, as indicated by another tip.
The company’s financial health appears solid, with a P/E ratio of 33.17 and a revenue of $14.23 billion for the last twelve months as of Q2 2024. While revenue growth has been slightly negative at -1.31% over the same period, the company maintains a strong operating income margin of 21.39%.
For investors interested in dividend stocks, Haleon offers a dividend yield of 1.0%, with an impressive dividend growth of 82.67% over the last twelve months as of Q2 2024.
These insights provide a broader context to Haleon’s financial position as it manages the recent board change. For those seeking a more comprehensive analysis, InvestingPro offers additional tips and metrics to further inform investment decisions.
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