Per Adam Feuerstein of The Street.com -- do go read it all -- but here is a Bob Bertolini update (late of Schering-Plough, an Ex-CFO) -- he is the new board of director appointee referred to, in The Street's story:
. . . .Relational Investors, which owns about 4% of Genzyme, has agreed to hold off on its previous request for board seat and said it will support the company's current nominees and directors.
In exchange, Genzyme agreed to nominate Relational principal Ralph Whitworth to the board in November if he chooses to join.
Relational has been pressuring Genzyme to make changes to address a slew of manufacturing and regulatory setbacks. In December, the company appointed a former Schering-Plough executive to its board -- a move welcomed at the time by Whitworth, although he said more needed to be done to turn Genzyme around. . . .
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