Dissident shareholders aim to shake up Teva BOD

|About: Teva Pharmaceutical In... (TEVA)|By:, SA News Editor

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.