An investor group led by New York City's comptroller have requested that Mylan's Chairman, Robert Coury, and Director, Wendy Cameron, step down, as part of a campaign against the drugmaker's executive pay packages and EpiPen pricing practices.
According to Reuters, more than a third of the investors voting at Mylan's annual meeting last week cast votes against Coury, while over half voted against Cameron.
More than two-thirds of the shares voted, as well as more than half of Mylan's outstanding shares, would have needed to be cast against the directors for them to lose. Yet, investors involved in the campaign against the drugmaker's board feel that there needs to be a change in order to restore shareowner confidence and value.
Read the Reuters article