Chief Executive Francis deSouza comfortably survived Icahn's attempt to oust him from the board, but the company's 'say on pay' proposal was overwhelmingly rejected by shareholders
Illumina Chief Executive Francis deSouza received 71 percent shareholder support to remain on the DNA sequencing outfit’s board of directors — despite being targeted for removal by activist investor Carl Icahn.
Winners and losers in the proxy battle were announced on May 25 following the meeting. But vote totals were withheld pending certification. So, it was unclear whether these hard-fought contests were nail-biters.Icahn’s battle with Illumina centered on the company’s decision in August 2021 to close the $7.1 billion acquisition of cancer diagnostic spinout Grail, even though the transaction remained under review from anti-monopoly regulators in the U.S. and Europe.
Shareholders delivered split results in proxy voting. While deSouza handily survived Icahn’s attempt to oust him, Illumina Board Chairman John Thompson did not. The former Symantec CEO and ex-Microsoft chairman was removed from the board, garnering just 34 percent of votes in favor. He was beaten by Icahn nominee Andrew Teno, who netted 60 percent support.
Meanwhile, shareholders trounced Illumina’s advisory vote on executive compensation, known as say on pay. The proposal received just 14 percent support. It is rare for say and pay proposals to be rejected. Typically, they are approved with 90 percent-plus shareholder support.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Shareholder values Elon Musk’s Twitter at $15 billion, a $29 billion mistake?Twitter is worth just one-third of what Elon Musk paid for, according to Fidelity, which recently marked down the value of its equity stake.
Leer más »
Walmart beats all nine proposals at shareholder meetingWalmart investors voted against all nine shareholder-led proposals during the retail giant's annual meeting on Wednesday, a preliminary tally by the company showed.
Leer más »
Carl F. Bucherer Just Dropped a Trio of Unique Minute Repeater WatchesCarl F. Bucherer celebrates its 135th anniversary with three new mesmerizing limited-edition timepieces. ⌚ watches watchcollectors
Leer más »
The Elephant in the Room: An Oral HistoryRecalling the neighborhood party, Kyle said, “We love Barbara. Carl’s Carl. He was drunk. As usual. What wasn’t usual was the elephant. That was incredibly weird.”
Leer más »
Dollar General shareholders pass proposal to improve worker safetyA shareholder proposal to improve worker safety at Dollar General by conducting an independent audit passed during the retailer's annual meeting Wednesday.
Leer más »
Sharon Chuter Leaves Uoma Beauty C-suite, Board“I remain a shareholder and will continue as an industry-leading product and creative visionary for the brand,” Chuter said.
Leer más »