Allergan boss finds allies in proxy advisors

17 April 2019

Brent Saunders, the chief executive and chairman of Ireland-headquartered drugmaker Allergan (NYSE: AGN), will suddenly be feeling a lot better ahead of the company’s annual meeting of shareholders on May 1.

Activist investor Appaloosa has been calling for the immediate separation of the chairman and CEO roles in recent months, in the hope of bringing in its own chairman to provide new leadership and stop Allergan’s declining stock value from sliding further.

The dissident shareholder was not satisfied with Mr Saunders’ promise that the two leadership roles would be split after his departure.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK