ISS backs election of Langer to replace former Biogen director Denner (updated)

Alkermes

15/06/2023 19:29

(Adds details from ISS report, background on election, details
on candidate)
    By Svea Herbst-Bayliss
       NEW YORK, June 15 (Reuters) - Proxy advisory firm
Institutional Shareholder Services on Thursday recommended that
Biogen  BIIB.O  shareholders elect Susan Langer to replace
long-standing director Alex Denner, who abruptly left the board
earlier this week.
    Biogen said Langer, a former corporate strategy chief at the
biotech company, would stand for election to replace Denner.
        ISS issued its recommendation after the unexpected
announcement on Monday that three directors -- Denner, William
Jones and Richard Mulligan -- would not stand for reelection.
The company named only one new director candidate as the other
seats would not be filled.
  
        Biogen's annual meeting on Thursday was convened but
then adjourned until June 26 to give shareholders more time to
consider the revised slate.
  
        Langer, 32, has served in a variety of roles at the
company from 2013 to 2019. She is the daughter of Bob Langer,
who co-founded vaccine maker Moderna  MRNA.O .
  
        If elected she would be the youngest director, with five
of the eight other directors in their 60s.     
  
        Denner, a hedge fund manager who has been a Biogen
director since 2009 and headed the nominating and governance
committee, picked Langer to replace him. He is Langer's romantic
partner, the company confirmed on Tuesday. ISS made no mention
of the relationship and only recommended that she be elected.
    Denner, 53, is currently seeking a board seat at Alkermes
 ALKS.O , which has a commercial relationship with Biogen. 

 (Reporting by Svea Herbst-Bayliss; Editing by Mark Porter)
 ((svea.herbst@thomsonreuters.com; +617 856 4331; Reuters
Messaging: svea.herbst.thomsonreuters.com@reuters.net))