Allergan Plc shareholders have voted down a proposal to order the immediate spli...
NEW YORK - Allergan Plc shareholders have voted down a proposal to order the immediate split of the roles of chairman and chief executive, with 61.3 percent of shareholders backing Chairman and CEO Brent Saunders.
Proxy advisory firms backed keeping the current structure. However, Appaloosa’s success in attracting the votes of a substantial minority highlights the displeasure of many investors. Appaloosa has voiced its discontent with the results of the review, and has called for a breakup or sale of the company, citing recent clinical failures such as that of its depression treatment rapastinel.
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