Al­ler­gan CEO Saun­ders hangs on to chair­man's ti­tle, win­ning share­hold­er sup­port — but not by a big enough mar­gin to squelch crit­ics

Brent Saun­ders will be hang­ing on to his chair­man’s ti­tle for awhile longer.

The bio­phar­ma re­port­ed ear­ly Wednes­day that 61.3% of its shares were cast in his fa­vor, de­feat­ing a move by ac­tivist in­vestor Ap­paloosa to split the CEO and chair­man roles Saun­ders holds and bring in an in­de­pen­dent to head the board.

The vote was 160 mil­lion shares against an in­de­pen­dent chair­man, 101 mil­lion in fa­vor.

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