Puma Biotech Shareholders Vote Against Pharma Multi-Millionaire Fred Eshelman
Fred Eshelman has lost his attempt to gain more influence on the board of a Los Angeles drug developer as the company’s shareholders voted overwhelmingly against him.
Eshelman tried to gain influence in Puma Biotechnology Inc. (NYSE: PBYI) by proposing to increase the size of the board of directors from five to nine members and to nominate himself and three others of his choosing to the board.
Existing Puma board members, led by Alan Auerbach, board chairman, president and CEO since Puma’s inception, launched a campaign against Eshelman’s proposals.
Eshelman tried to gain influence in Puma Biotechnology Inc. (NYSE: PBYI) by proposing to increase the size of the board of directors from five to nine members and to nominate himself and three others of his choosing to the board.
Existing Puma board members, led by Alan Auerbach, board chairman, president and CEO since Puma’s inception, launched a campaign against Eshelman’s proposals.