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Pershing Square proposes independent slate for Allergan board of directors


Activist hedge fund Pershing Square Capital Management is proposing a slate of six independent directors for the board of directors of Allergan.

The six members of the slate are: Betsy Atkins, Cathleen P Black, Fredric N Eshelman, Steven J Shulman, David A Wilson and John J Zillmer.
 
As previously announced, Pershing Square is seeking to call a special meeting of Allergan shareholders. At this special meeting, Allergan shareholders will be able to voice their support for a number of critical matters, including the removal of six incumbent members of the Allergan board, the appointment of the independent Pershing Square slate and certain other actions to improve the corporate governance of Allergan. To that end, Pershing Square is filing revised preliminary solicitation materials with the Securities and Exchange Commission (SEC).
 
Pershing Square CEO Bill Ackman says: “Each member of our slate of nominees is an independent, skilled leader with relevant domain, industry and/or executive management experience. By supporting this slate, Allergan shareholders can ensure that the interests of shareholders will be well represented on the board of Allergan.”

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