ISS backs election of Langer to replace former Biogen director Denner
Reuters
Published Jun 15, 2023 02:32PM ET
By Svea Herbst-Bayliss
NEW YORK (Reuters) - Proxy advisory firm Institutional Shareholder Services on Thursday recommended that Biogen (O:BIIB) shareholders elect Susan Langer to replace long-standing director Alex Denner, who abruptly left the board earlier this week.
Biogen said Langer, a former corporate strategy chief at the biotech company, would stand for election to replace Denner.
ISS issued its recommendation after the unexpected announcement on Monday that three directors -- Denner, William Jones and Richard Mulligan -- would not stand for reelection. The company named only one new director candidate as the other seats would not be filled.
Biogen's annual meeting on Thursday was convened but then adjourned until June 26 to give shareholders more time to consider the revised slate.
Langer, 32, has served in a variety of roles at the company from 2013 to 2019. She is the daughter of Bob Langer, who co-founded vaccine maker Moderna (NASDAQ:MRNA).
If elected she would be the youngest director, with five of the eight other directors in their 60s.
Denner, a hedge fund manager who has been a Biogen director since 2009 and headed the nominating and governance committee, picked Langer to replace him. He is Langer's romantic partner, the company confirmed on Tuesday. ISS made no mention of the relationship and only recommended that she be elected.
Denner, 53, is currently seeking a board seat at Alkermes (NASDAQ:ALKS), which has a commercial relationship with Biogen.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.