Elan names ex-Glaxo executive Ingram as chairman
DUBLIN (Reuters) - Ireland's Elan (ELN.I) appointed former GlaxoSmithKline PLC (GSK.L)(GSK.N) executive Robert Ingram as chairman on Monday in a move designed to ease shareholder concerns of a lack of expertise at the drugmaker.
Elan shareholders have criticized the company, which makes multiple sclerosis drug Tysabri in partnership with Biogen Idec (BIIB.O), for what they perceive as mismanagement and misconduct.
Two directors -- industry veterans Jack Schuler and Vaughn Bryson -- challenged the company's transparency and corporate governance earlier this year and quit the board as a result.
Ingram, a former chief operating officer and vice chairman pharmaceuticals at Glaxo, joins Elan's board immediately and will take over from outgoing chairman Kyran McLaughlin from January 26, 2011.
Shares in Elan were 2 percent higher at 3.98 euros by 8:12 a.m. British time.
(Reporting by Padraic Halpin; Editing by Hans Peters)
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