By Svea Herbst-Bayliss
NEW YORK (Reuters) – Proxy advisory firm Institutional Shareholder Services on Thursday recommended that Biogen
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.
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, which has a commercial relationship with Biogen.
(Reporting by Svea Herbst-Bayliss; Editing by Mark Porter)
