Allergan (NYSE:AGN) chairman & CEO David Pyott is resigning his seat on the board at Edwards Lifesciences (NYSE:EW), effective immediately, to devote more time to his chief executive duties – which include fending off a hostile takeover bid.
Allergan is resisting the move by Valeant Pharmaceuticals (NYSE:VRX, TSE:VRX) and hedge fund mogul William Ackman’s Pershing Square Capital Management to take it over in a $53 billion cash-and-stock deal.
"The board and I are truly appreciative of David’s service and commitment to Edwards during the last 14 years," Edwards chairman & CEO Michael Mussallem said in prepared remarks. "David’s extensive global experience in leadership roles at innovative health and nutrition companies made him a valuable resource for our company. He has been a trusted partner and brought important expertise to Edwards in delivering novel therapies to address the needs of patients. We wish him the best and thank him for the significant role he has played in Edwards’ growth and success."
Pyott held a seat at Edwards from 2000 until Oct. 3, 2014, according to a press release.
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