corporate governance, Proxy Battle, diabetes

Former Novartis CEO Elected as Amylin Chairman

Bruce V. Bigelow 8/25/09

Amylin Pharmaceuticals’ board of directors has unanimously elected former Novartis CEO Paulo Costa as chairman, an appointment that was supported by Eastbourne Capital Management of San Rafael, CA, an institutional investor that had voiced concerns about the vacancy in the chairman’s role. An Eastbourne spokesman says the firm supported Costa’s election to Amylin’s board and that Costa “is an excellent choice for chairman.” The former Novartis CEO was elected to Amylin’s board two months ago from the company’s slate of candidates, and James Gavin, who heads the board’s corporate governance committee, said in a statement released by the company, “Paulo brings a fresh perspective to all aspects of Amylin’s business at this important time for the company.”

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call 858-202-0492