German drugmaker sees AGM poll remove supervisory board chairman.
Dr Martin Abend, chairman of the supervisory board at German generic drugmaker Stada, has been voted off the board by a narrow margin at the company’s AGM.
Shareholders polled narrowly to remove Abend on Saturday. The meeting came in the wake of a campaign by investment company Active Ownership Capital (AOC) for changes to the board.
However, AOC failed to have their own candidate, Eric Cornut, a former manager at Swiss drugmaker Novartis, elected to the chairmanship, according to Reuters.
Cornet was, however, elected to the board as a dire
For thoughtful journalism, expert insights on corporate governance and an extensive library of reports, guides and tools to help boards and directors navigate the complexities of their roles, subscribe to Board Agenda