Activist investor Appaloosa LP said on Monday that Allergan Plc's board was...
The Allergan logo is seen in this photo illustration November 23, 2015. REUTERS/Thomas White/Illustration/File Photo
Allergan agreed to split its chairman and chief executive roles, but only at its next leadership change. A source close to Allergan told Reuters on Friday that current Chairman and CEO Brent Saunders, 49, has no plans to step down. “Unless the board intends to make a CEO transition in the very near-term, these measures are no more than a meaningless series of gestures intended to preserve the current system of lax oversight and further entrench management,” Appaloosa said in a statement.
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