ELAN, the biotechnology research company, have appointed former GlaxoSmithKline executive Robert Ingram as their new chairman, it was announced yesterday.
The move comes after shareholders expressed concern over a lack of expertise in the firm, and opposed the re-election of non executive chairman Kyran McLaughlin.
Following questions over his tenure earlier this year, McLaughlin had declared his intention to step down on completion of the search for a successor.
“Robert Ingram is one of the most distinguished leaders in the global pharmaceutical industry,” said the outgoing McLaughlin.
Ingram, 68, brings experience to the Dublin based company, having held several senior roles at GlaxoSmithKline and Glaxo Wellcome.
Elan’s stock rose by 6.4 per cent after the news broke.