LOS ANGELES, June 11 (Reuters) - Elan Corp Plc on Thursday nominated two dissidents to its board, including a major shareholder who has called for the Irish drugmaker's chief executive to be fired.
Elan, based in Dublin, said it has proposed that Vaughn Bryson and Jack Schuler join nominee Richard Pilnik, whose appointment to the company's board was announced in mid-May, as nonexecutive directors of the company.
In conjunction with the proposed election of the three new directors, Elan announced the planned retirement of Floyd Bloom, Ann Gray and Dennis Selkoe from the board.
Schuler, the co-founder of private investment firm Crabtree Partners LLC, said in December that investors had 'completely lost confidence in' Elan Chief Executive Kelly Martin and his management team.
At the time, he said he owned 5.5 million shares of Elan.
Bryson is a former CEO of Eli Lilly and Co who has served on the boards of several other companies, Elan said in a statement.
Elan, a co-marketer with Biogen Idec of multiple sclerosis drug Tysabri, hired Citigroup in January to conduct a review of its business and said at the time a merger or sale of the company was possible.
The company said its annual meeting will be held July 16. Keywords: ELAN/ (Reporting by Deena Beasley; Editing Bernard Orr, deena.beasley@thomsonreuters.com; 1-213-955-6746; Reuters Messaging: deena.beasley.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Elan, based in Dublin, said it has proposed that Vaughn Bryson and Jack Schuler join nominee Richard Pilnik, whose appointment to the company's board was announced in mid-May, as nonexecutive directors of the company.
In conjunction with the proposed election of the three new directors, Elan announced the planned retirement of Floyd Bloom, Ann Gray and Dennis Selkoe from the board.
Schuler, the co-founder of private investment firm Crabtree Partners LLC, said in December that investors had 'completely lost confidence in' Elan Chief Executive Kelly Martin and his management team.
At the time, he said he owned 5.5 million shares of Elan.
Bryson is a former CEO of Eli Lilly and Co who has served on the boards of several other companies, Elan said in a statement.
Elan, a co-marketer with Biogen Idec of multiple sclerosis drug Tysabri, hired Citigroup in January to conduct a review of its business and said at the time a merger or sale of the company was possible.
The company said its annual meeting will be held July 16. Keywords: ELAN/ (Reporting by Deena Beasley; Editing Bernard Orr, deena.beasley@thomsonreuters.com; 1-213-955-6746; Reuters Messaging: deena.beasley.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.