Amylin Pharmaceuticals has named a new chairman, bringing to a close a vicious proxy battle waged by activist shareholder Carl Icahn and his associates. According to the San Diego Union-Tribune, former biotech executive Paulo Costa will head the twelve-person Amylin board. Icahn and Eastbourne Capital Management had waged an extensive proxy battle against Amylin, culminating in the nomination of two dissident directors in May—followed by two more members to the board, of which Costa is one. Eastbourne released a statement yesterday calling Costa “an excellent choice for chairman.”
Paulo Costa in as Amylin Chair
A new chairman nomination has brought to a close a long-standing proxy battle between Amylin Pharmaceuticals and Carl Icahn.
August 25, 2009