In a harshly worded letter, several large institutional investors are urging shareholders to oppose the re-election of six Mylan directors — including non-executive chairman Robert Coury — over its “costly record of compensation, [and] risk and compliance failures.”
The move comes shortly after Mylan disclosed that Coury was given a $97 million pay package last year. At the time, corporate governance experts suggested shareholders may revolt over his compensation, which included a $22.3 million termination benefit for his recent change in status to non-executive chair and came in the wake of a wave of pricing controversy and government probes.
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Many thanks for this article…it is quite useful as I teach a course (and mentor faculty) in Hangzhou, China on “Ethics in Science and Pharmaceuticals”. As a SUNY Distinguished Teaching Professor, I am especially interested in the New York connection here…..currently writing a manuscript on why claims of altruism in Pharma ring hollow with the public….nicely articulated story…