Coppersmith Presentation to Alere Inc Stockholders
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Chairman & CEO Zwanziger's Board Track Record
Chairman & CEO Zwanziger has attempted to focus
this contest on prior board track records. Let's look at
his only other public company board in the last ten
years:
AMAG Pharmaceuticals (AMAG)
L During his tenure from November 2006 to
December 2011, AMAG stockholder return was
54%, underperforming its relevant market and
sector indices by -66% and -82%, respectively 35
▪ AMAG was a chronically underperforming company
with a bloated infrastructure (128% SG&A Margin)
▪ In July 2011 it announced an ill-advised acquisition
of Allos Therapeutics which led to a consent
solicitation by an AMAG stockholder calling for the
removal of six directors, including Mr. Zwanziger
> The Allos deal was voted down by AMAG
stockholders in November 2011 and significant
management and board turnover followed,
including the resignation of Mr. Zwanziger
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Nov-06 Mar-07 Jul-07 Nov-07 Mar-08 Jul-08 Nov-08 Mar-09 Jul-09 Nov-09 Mar-10 Jul-10 Nov-10
-AMAG -Nasdaq -Nadsaq Biotechnology Index
AMAG's stock price declined 54% during Mr. Zwanziger's tenure
Mar-11 Jul-11 Nov-11View entire presentation