|
|
Article: Elan Seeking US$1B In Asset Sale As Top Executive Departs.
- Article from:
- BIOWORLD Today
- Article date:
- November 4, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
BioWorld International Correspondent
DUBLIN, Ireland - The top slot at ailing Irish biopharmaceutical firm Elan Corp. plc became available Tuesday as Chairman and CEO Donal Geaney vacated both roles, following a share price meltdown last Thursday, when Standard & Poor's reduced the company's debt rating to junk bond status.
Geaney has also resigned from the board of the Dublin-based company, as has Vice Chairman Thomas Lynch. Both will act as senior advisers to newly appointed chairman, Garo Armen. Armen, an Elan director since 1994 and the chairman and CEO of New York-based Antigenics Inc., now heads up a five-person executive committee that will ...