Mylan shareholders reject executive pay plan

23 June 2017

Shareholders of beleaguered Netherlands-incorporated drugmaker Mylan (Nasdaq: MYL) voted against the company's executive pay policy but re-elected the board at its annual meeting on Thursday, despite a shareholder campaign in the wake of a scandal over high prices for its EpiPen emergency allergy treatment.

The Mylan vote signals deep dissension over the $98 million in compensation awarded to former chief executive Robert Coury, who is now Mylan’s executive chairman. Current Mylan CEO Heather Bresch was also awarded $13.8 million in total compensation and a larger equity award in 2016.

The annual meeting was held in Amsterdam, where the company has been headquartered since 2015. It was sparsely attended, with around the same number of attendees from the company as those in the audience, according to Reuters.

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