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Mylan votes to keep board of directors, nix executive pay packages

The Dominion Post

MORGANTOWN, W.Va.  — Mylan NV shareholders voted on June 22 to keep the existing board of directors but disapproved, in a non-binding advisory vote, the executive pay packages.

The votes came during the company’s annual meeting in Amsterdam, Reuters reported early June 22.

Mylan has not yet released the vote tallies. It did provide statements on both votes.

Regarding the board, it said: “We appreciate our shareholders’ continuing support of the Mylan board, which has overseen the development of a differentiated, clear and consistent long-term strategy that has created sustained long-term growth and value for shareholders, while also serving the interests of other stakeholders.”

Regarding the pay, it said: “A majority of shareholders did not support the company’s advisory say-on-pay proposal relating to 2016 compensation. … “The Compensation Committee and board of directors will carefully consider these results, as well as future shareholder input, as we continue our investor outreach and in designing our compensation programs going forward.”

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