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question everything

(47,265 posts)
Tue May 30, 2017, 10:25 PM May 2017

Big Pension Funds Oppose Election of Six Mylan Directors

Source: WSJ

A group of institutional investors unhappy over high executive pay at Mylan NV are taking aim at six board members at the EpiPen maker.

Four major pension funds launched a campaign late Tuesday urging fellow Mylan shareholders to oppose the re-election of Chairman Robert J. Coury and five other directors at the company’s June 22 annual meeting. Mr. Coury, Mylan’s former chief executive, received nearly $100 million in 2016, when the company ignited a public furor over hefty price increases on its lifesaving allergy medicine.

Mr. Coury’s pay package, among the largest disclosed for 2016, included a termination benefit of $22.3 million. He switched from executive chairman to nonemployee chairman last year. For his current role, Mr. Coury gets a cash retainer of $1.8 million a year along with other rewards... The company previously said Mylan delivered strong financial performance during Mr. Coury’s long tenure

(snip)

The institutions also urged Mylan shareholders to reject the company’s executive compensation plans because they say directors repeatedly approve “excessive pay” for top officers. About 35% of votes cast in this nonbinding referendum gave thumbs down to Mylan’s pay practices last year.

(snip)

The drugmaker in 2016 came under fire over repeated price increases for EpiPen. In October, the company agreed to pay $465 million to settle allegations that it had overcharged the U.S. government for its EpiPen products. Mylan previously said the settlement included no finding of wrongdoing by the company or its employees.


Read more: https://www.wsj.com/articles/big-pension-funds-oppose-election-of-six-mylan-directors-1496187480



Of course it delivered "strong financial performance" by gauging families of children..
8 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Big Pension Funds Oppose Election of Six Mylan Directors (Original Post) question everything May 2017 OP
Clawback that salary, don't just vote him out sharedvalues May 2017 #1
NOBODY is worth that. PatrickforO May 2017 #2
Who were the other five? GeoWilliam750 May 2017 #3
Try this: mahatmakanejeeves May 2017 #5
Here is the letter from investors GeoWilliam750 May 2017 #8
No one is worth what these high paid madokie May 2017 #4
I know. I often wonder: what can one possibly do with $100 million? question everything May 2017 #6
I personally dont object to that high of a salary for a CEO as long as everyone that works for the cstanleytech May 2017 #7

PatrickforO

(14,516 posts)
2. NOBODY is worth that.
Tue May 30, 2017, 10:40 PM
May 2017

How about spreading some of that money wasted on executives to the workers, WITHOUT WHOM THERE COULD BE NO PROFIT?

mahatmakanejeeves

(56,896 posts)
5. Try this:
Wed May 31, 2017, 09:16 AM
May 2017

I have found that if you go to articles in TWSJ. by clicking on the link in the author's Twitter feed, you go right around the paywall.

Also, you might be able to get in through your public library's subscription. Many public libraries provide access to newspapers from around the world.

HTH.

Big Pension Funds Oppose Election of Six Mylan Directors

Group targets drugmaker’s pay packages and seeks to unseat Chairman Robert J. Coury

By Joann S. Lublin
May 30, 2017 7:38 p.m. ET

A group of institutional investors unhappy over high executive pay at Mylan NV are taking aim at six board members at the EpiPen maker.
....

Joann.Lublin@wsj.com
@JoannLublin

question everything

(47,265 posts)
6. I know. I often wonder: what can one possibly do with $100 million?
Wed May 31, 2017, 11:40 AM
May 2017

Or even with $10?

Unless, of course, you spread it around which I don't think any of them do

Of course, each of the Trump brats is worth $150 million..

cstanleytech

(26,080 posts)
7. I personally dont object to that high of a salary for a CEO as long as everyone that works for the
Wed May 31, 2017, 11:49 AM
May 2017

company is earning a living wage and by living wage I mean enough to pay all their bills without problems, take 2 weeks or so paid vacation and have atleast 30% of their wages left over to set aside for retirement.
Unfortunately I am unaware of any companies that do that and more often than not the companies fuck the rest of the employees over while patting the CEO on the back for doing it to them with a big pay check.

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