NEW YORK (HedgeWorld.com) - The billionaire activist investor Carl Icahn gained control of ImClone Systems Inc. today [Oct. 25], following his election as board chairman at the biotechnology drug company and the resignation of ImClone Interim Chief Executive Joseph L. Fischer, whom Mr. Icahn had criticized for lacking relevant experience.
The duties of Mr. Fischer, who also resigned from the board, will be assumed by a new Executive Committee of the Board, which will operate as "the principal executive body for the company" until a new chief executive is named, according to a statement from the company. Board member Alex Denner, Ph.D., will head the committee, which will also include directors Richard Mulligan, Ph.D., and Charles Wolder, M.D., Ph.D. - associates of Mr. Ichan's who were ...
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