By Oliver Hirt and Marleen Kaesebier
ZURICH, Sept 10 (Reuters) - A major shareholder in Novartis has called for a shake-up of the Swiss drugmaker's board to improve corporate governance after its shares suffered a record fall this week following back-to-back trial setbacks.
David Samra, managing director at top 20 investor Artisan Partners and founding partner of International Value Group, said the board needed to strengthen its oversight of acquisitions, calling for action from board chairman Giovanni Caforio.
"I think he needs to make changes at the board level. One of them should be on improving the team that's doing these deals because clearly they have been uninspiring at best," Samra told Reuters in an interview.
"I think that the board needs to improve their oversight of acquisitions... they need to bring in better talent on the board to do that and have an acquisition committee."
#improve
ZURICH, Sept 10 (Reuters) - A major shareholder in Novartis has called for a shake-up of the Swiss drugmaker's board to improve corporate governance after its shares suffered a record fall this week following back-to-back trial setbacks.
David Samra, managing director at top 20 investor Artisan Partners and founding partner of International Value Group, said the board needed to strengthen its oversight of acquisitions, calling for action from board chairman Giovanni Caforio.
"I think he needs to make changes at the board level. One of them should be on improving the team that's doing these deals because clearly they have been uninspiring at best," Samra told Reuters in an interview.
"I think that the board needs to improve their oversight of acquisitions... they need to bring in better talent on the board to do that and have an acquisition committee."
#improve
15 hours ago
