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Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) announced that all proposals were approved at its Annual General Meeting of Shareholders held earlier today. These proposals included the appointment of directors, the approval of cash bonus objectives and future equity awards for the Chief Executive Officer, directors’ and officers’ insurance and the appointment of auditors. The voting results are provided below.
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“We appreciate the support of Teva’s shareholders in our efforts to diversify the Board and strengthen our corporate governance, including reducing the size of the Board from 15 members to 13, nominating a director with extensive global pharmaceutical experience, and the continued service of our CEO as a member of our Board of Directors.”, the Board of Directors issued in a statement.
The Board added: “The message we received from shareholders is clear. We are committed and continuing our efforts to address matters important to our shareholders and to improve corporate governance.”
The Board concluded: “We have before us significant business challenges and opportunities linked to Teva’s growth, and we will do our utmost to meet them.”
The proposals were approved by the following approximate percentages of shares voting, based on a preliminary tabulation:
Appointment of Dan Propper – 82%
Appointment of Ori Slonim – 63%
Appointment of Yossi Nitzani – 69%
Appointment of Jean-Michel Halfon – 98%
CEO cash bonus objectives – 92%
CEO future equity awards – 72%
D&O insurance – 74%
Appointment of independent auditors – 98%
These results do not reflect any discretionary voting of uninstructed ordinary shares represented by ADSs, which Teva did not cause to be voted.
