February 7, 2017 / 1:20 PM / 10 months ago

Perrigo adds Starboard CEO to its board

Feb 7 (Reuters) - Perrigo Co Plc said it has entered an agreement with Starboard Value LP, which owns about 6.7 percent of Perrigo’s shares, regarding the membership and composition of the drugmaker’s board.

Starboard’s CEO Jeffrey Smith, Bradley Alford and Jeffrey Kindler have been appointed to the board of the drugmaker.

Perrigo’s announcement comes nearly five months after activist shareholder Starboard said the Dublin-based drugmaker must make immediate improvements to turn around its sagging stock price.

Starboard will also recommend two additional independent directors to be added to Perrigo’s Board. (Reporting by Ankur Banerjee in Bengaluru; Editing by Shounak Dasgupta)

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