Biogen shareholder denounces CEO pay
A Biogen Idec shareholder is castigating CEO James Mullen ( photo ) for selling $85 million in company stock and picking up $63 million in compensation, Reuters reports. And no, the shareholder isn’t Carl Icahn. It’s HealthCor Management, which owns 1.3 percent of the company. And it’s none too happy with the current state of affairs. “James Mullen has made considerable personal profits while running Biogen Idec,” HealthCor wrote in a letter to Mullen and the Biogen board of directors (as quoted by Reuters ). “[A]nd [he] has egregiously continued to sell down his personal holdings in the Company, while investors have been left holding the bag.”
