Allergan says future Chairman will be independent board member
In a regulatory filing Friday night, Allergan announced that it has adopted a policy to provide that the Chairman of the board shall be an independent member of the board to be phased in with the next leadership transition. The board of directors also formed a Mergers and Acquisitions Committee to provide focused oversight on mergers, acquisitions, divestitures and other transactions. The Mergers and Acquisitions Committee is comprised of Robert Hugin as Chair, Christopher Coughlin, Thomas Freyman and Michael Greenberg. Additionally, the board of directors adopted "enhancements to its already-robust Lead Independent Director role, responding to shareholder input and further strengthening the position," the company said. Allergan announced that Catherine Klema will not be standing for re-election to the board at the 2019 Annual General Meeting of Shareholders and also announced that Thomas Freyman will become the Chair of the Compensation Committee of the Board, effective as of Ms. Klema's retirement from the board.