Date: 2015-04-29
Type of information: Resignation
Compound:
Company: Ariad Pharmaceuticals (USA - MA)
Therapeutic area: Cancer - Oncology
Type agreement: resignation
Action mechanism:
Disease:
Details: * On April 29, 2015, Ariad Pharmaceuticals announced that it has reached an agreement to settle its current proxy contest with Sarissa Capital Management . In addition, Ariad\'s founder, Harvey J. Berger , M.D., has informed the Board of Directors of his decision to retire as chairman and chief executive officer (CEO) upon appointment of his successor or December 31, 2015 , whichever is earlier. The Board has formed a CEO search committee chaired by Alex Denner of Sarissa Capital , which will work expeditiously to find a successor CEO.
In addition, under the terms of the settlement, Ariad\'s Board has appointed Anna Protopapas by filling an existing open director seat on the Board. Sarissa will withdraw its proposed slate of director nominees, which included Ms. Protopapas, for election at the 2015 Annual Meeting and has agreed to vote all of its shares in favor of the Board\'s nominees.
Financial terms:
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