Carl Icahn Plans to Replace Genzyme’s CEO and Three Directors

May 8th, 2010
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Carl Icahn issued a proxy statement announcing that he is planning to replace biotech company Genzyme Corporation’s CEO Henri Termeer and three other members from its board of ten directors. Mr. Icahn also reiterated that Genzyme’s flawed manufacturing system needs adjustments.

Genzyme officials challenged Mr. Icahn’s selection of Alexander Denner and Richard Mulligan for replacement, arguing that these two board members also serve on the board of Biogen Idec, a biotech company that might want to access confidential information about Genzyme. Mr. Icahn dismissed this argument in the proxy statement.
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For Detailed Investor Profiles on these Investors, click below:
Icahn Associates (Carl Icahn)
Related People: Alexander J. Denner; Brett Icahn; Carl Icahn; Keith A. Meister*
Related Entities: High River Limited Partnership; Icahn Partners; Icahn & Co Inc; Icahn Associates; Icahn Enterprises (formerly American Real Estate Partners); Icahn Fund Ltd; Icahn Partners LP
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles

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