ARIAD Enters into Settlement Agreement with Sarissa Capital Management
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ARIAD Pharma (ARIA) Agrees to Settle Proxy Contest with Sarissa Capital, Berger to Retire as Chairman and CEO
April 29, 2015 8:03 AM EDTARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA) today announced that it has reached an agreement to settle its current proxy contest with Sarissa Capital Management. In addition, ARIADs founder, Harvey J. Berger, M.D., has informed the Board of Directors of his decision to retire as chairman and chief executive officer (CEO) upon appointment of his successor or December 31, 2015, whichever is earlier. The Board has formed a CEO search committee chaired by Alex Denner of Sarissa Capital, which will work expeditiously to find a successor CEO.
In addition, under the terms of the settlement,... More
