Approximately 40% of Shareholders Want Immediate Split of Chairman
and CEO Roles
NEW YORK–(BUSINESS WIRE)–Appaloosa LP today issued a statement following Allergan plc’s (NYSE:
AGN) (“Allergan”) Annual General Meeting of Shareholders on May 1, 2019
regarding Allergan shareholder’s vote on Appaloosa’s proposal to
separate the Chairman and CEO roles.
“Allergan shareholders are clearly dissatisfied with management’s
performance, business strategy and board oversight, as nearly 40% of
voting shareholders want more pressing change than what the Board is
offering. It is incumbent on Allergan’s Board to address these
shareholder concerns with concrete actions. Appaloosa continues to
believe that separating the roles of Chairman and CEO is a necessary
initial step toward arresting the steady decline of what was once a
great company. We look forward to Allergan detailing the tangible steps
the Board intends to take in order to begin the process of restoring
credibility and value for its shareholders.”
Contacts
Media:
Jonathan Gasthalter/Nathaniel Garnick
Gasthalter
& Co.
(212) 257-4170
