After Mylan shareholders last week rebuked the drug maker by voting against executive compensation, three large pension funds are now calling for Mylan to remove its non-executive chairman and a director in hopes of restoring confidence in the beleaguered board.
In explaining their reasoning, the funds pointed to an “astounding” 83.5 percent of shareholders who did not support executive pay, including a controversial, $97 million package given to non-executive chairman Robert Coury. The funds also noted that a majority of shareholders – 56 percent – voted against re-electing Wendy Cameron, the director who heads the Mylan compensation committee (the numbers are right here).
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