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Dissident shareholders aim to shake up Teva BOD

  • Israeli industrialist Benny Landa leads a group of investors intending to shoot down two board resolutions at Teva's (TEVA +0.7%) annual shareholders' meeting later this month. Landa and Teva founding family member Ruth Cheshin lead a proxy fight opposing the reappointment of board member Ory Slonim and the purchase of liability insurance for directors and officers.
  • Landa says that Teva's board is too big and it is lacking in global pharma experience. In response to the criticism, outgoing Chairman Philip Frost reduced the number of board seats to 13 from 15 and appointed a senior pharma executive to the board.
Comments (3)
  • Bearded and busy
    , contributor
    Comments (15) | Send Message
     
    Long past due. Amen (Aumain)
    14 Jul, 11:35 AM Reply Like
  • Not Rocket Science
    , contributor
    Comments (2) | Send Message
     
    I hope Landa wins this proxy fight. I read his web post, which is a rivetting account of the behind-the-scenes events that led up to the rift. Reading this makes you realize how even boards of huge companies sometimes need to be brought to heel. It's at http://bit.ly/1pdm7gZ
    17 Jul, 07:42 AM Reply Like
  • Not Rocket Science
    , contributor
    Comments (2) | Send Message
     
    I hope Landa wins this proxy fight. I'm not a Teva investor, but anyone who reads Landa's revetting account about governance abuse and board dysfunction would also be cheering him on. http://bit.ly/1pdm7gZ
    17 Jul, 07:42 AM Reply Like
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