Mylan (NSDQ:MYL) defended chairman Robert Coury to Institutional Shareholder Services, an shareholder advisory group, earlier this week as the firm prepares to release a report advising shareholders how they should vote in the upcoming re-election of Coury and other directors.
Major investors like the New York City and State pension funds have urged shareholders to vote against Coury and 5 other directors, pointing towards issues like Coury’s $97 million compensation package last year. The funds also cited Mylan’s sinking share price, which has dropped since it reportedly turned down a takeover deal with rival Teva Pharmaceutical (NYSE:TEVA) in 2015.
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