Carl Icahn gets chairmanship of ImClone; other board moves
Billionaire investor Carl Icahn who, with a 14% stake in ImClone Systems has been angling to remove half of the firm's board members claiming they had done a very bad job in running it, has been elected chairman. ImClone also said that interim chief executive Joseph Fischer has resigned from the post and the board of directors, and he will be replaced by a newly-formed executive committee, to be chaired by Alex Denner. Additionally, it stated, three board directors - Vincent DeVita, John Fazio and William Miller - will not stand for re-election.
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