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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