Ac­tivist in­vestor Alex Den­ner in the spot­light again as the Med­i­cines Com­pa­ny shrinks its board

The Med­i­cines Com­pa­ny $MD­CO is down­siz­ing its board from 12 to 7 di­rec­tors in a move that will give ac­tivist in­vestor Alex Den­ner con­sid­er­able con­trol of the com­pa­ny.

In an SEC fil­ing, the com­pa­ny stat­ed that the de­ci­sion is “a re­sult of the rapid and sig­nif­i­cant evo­lu­tion our busi­ness and the nar­row­ing of our op­er­a­tional fo­cus on­to in­clisir­an.”

The di­rec­tors who will be nom­i­nat­ed at the an­nu­al share­hold­er meet­ing are Den­ner, Med­i­cines Com­pa­ny CEO Clive Mean­well, Fredric Es­hel­man, Geno Ger­mano, John Kel­ly, Paris Panayiotopou­los, and Sarah Schlesinger. Schlesinger was ap­point­ed just two days ahead of the an­nounce­ment about re­struc­tur­ing, and is one of three board mem­bers with close ties to Den­ner.

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