Alkermes hands a board seat to Alex Denner's Sarissa after facing renewed proxy pressure to 'refresh' directors
It’s been several months since Alkermes chief Richard Pops won over activists at Elliott Advisors with a grand plan to shake up the company. Now, facing new pressure from Alex Denner at Sarissa Capital, the CEO is making good on his promise to “refresh” the board of directors.
Following “constructive dialogue” with Sarissa — which owns a 5% stake in Alkermes — the company said on Friday that it’s allowing the activist fund to tap a new director to the board. It’s the latest move in a board refreshment program Alkermes initiated two years ago, which has since seen the appointment of four independent members.
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