Forest Laboratories Inc. (FRX), according to an agreement with Carl Icahn and affiliated entities, has appointed Vincent Intrieri as a new independent member of its board. Pursuant to the agreement, Icahn would vote the shares that he controls in support of Forest's 11 director nominees and not run a proxy contest at the company's 2013 annual meeting and to certain standstill restrictions that would be in effect generally so long as Intrieri serves on the board. Intrieri would become the fifth member of the independent committee overseeing succession planning.
Forest's nominees for election at the 2013 Annual Meeting include current directors like Nesli Basgoz; Christopher Coughlin; Kenneth Goodman; Pierre Legault; Gerald Lieberman; Lawrence Olanoff; Lester Salans; Brenton Saunders; Howard Solomon and Peter Zimetbaum; as well as Intrieri.
The agreement between the company and Icahn would be filed on Form 8-K with the Securities and Exchange Commission.
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