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Schering-Plough Shareholders Applaud New CEO.
Byline: Lewis Krauskopf
Apr. 28--MAHWAH, N.J. -- Shareholders of Schering-Plough Corp. greeted CEO Fred Hassan warmly Tuesday, in a sharp departure from annual meetings run by his predecessor.
Problems at the Kenilworth-based drug maker and its diving share price led to hostile give-and-takes between shareholders and former chief Richard Jay Kogan. Kogan, who resigned with a $50 million package, was replaced by Hassan just before last year's annual meeting.
On Tuesday, several shareholders thanked Hassan, who came to Schering-Plough after heading Pharmacia Corp.
But others questioned the role of the board of directors, who in the words of Claire Wollock of Wayne, "caused such horror" to the company by not doing enough when Kogan was in charge.
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