Xconomy: Replacing Phil Sharp Will Be Up to Biogens Board
Summary
Part of the goal behind fixing the number of directors at 13 was to prevent Biogen’s board from swelling its ranks to dilute the power of those members nominated by Icahn, who controlled 5.6 percent of Biogen’s common stock as of last month.Still, Biogen’s board loses some significant scientific pedigree with the retirement of Sharp, a top molecular biologist, geneticist and Institute Professor at MIT.He won a Nobel Prize in medicine in 1993 for his co-discovery of gene splicing and a 2004 National Medal of Science for his pioneering research in the field of RNA interference.Biogen didn’t provide much of an explanation for why Sharp retired two years before his current term on the board was due to expire, and he has not yet responded to an e-mail we sent him regarding his decision.“What I can tell you is this a personal decision that [Sharp] made based on his individual goals and circumstances,” Neiman said, “and I’m not aware of the specifics beyond that.” It’s probably worth noting that Icahn—whose has made past attempts to push for the sale of Biogen—singled out Sharp last year as the only one of four Biogen directors up for reelection that he didn’t want to replace with his own nominees.