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Top VIVUS, Inc. (VVUS) Shareholder Looks to Oust CEO


6/26/2013 8:23:15 AM

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First Manhattan Company (FMC) stepped up the pressure in its proxy fight with obesity drug maker Vivus Inc (VVUS.O), saying it was in advanced discussions with potential chief executive candidates to replace the current CEO should it prevail in gaining control of the Vivus board. In a filing with U.S. securities regulators, FMC said it had gone as far as hiring recruiters with experience in the pharmaceutical industry to identify top CEO candidates. "We are encouraged by the quality of those candidates and their level of interest," First Manhattan, Vivus' largest shareholder with nearly 10 percent of outstanding shares, said on Tuesday in a news release and the filing.

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