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Stockholders of Vertex Pharmaceuticals Approve Proxy Proposals at Annual Meeting
Stockholders of Vertex Pharmaceuticals Approve Proxy Proposals at Annual Meeting.
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[{"type":"text","content":"\n\n\n\n\n - Company Updates Corporate Governance Practices -\n\nCAMBRIDGE, Mass., May 11 /CNW/ -- Vertex Pharmaceuticals\nIncorporated (Nasdaq: VRTX) today announced results of the voting at its 2006\nAnnual Meeting of Stockholders. Joshua Boger, Ph.D., President and Chief\nExecutive Officer of Vertex, also provided stockholders in attendance at the\nmeeting with a brief overview of the Company's 2006 clinical and corporate\nobjectives.\nAt the meeting, stockholders approved the Vertex Pharmaceuticals\nIncorporated 2006 Stock and Option Plan and also re-elected all three director\nnominees. Each of the director nominees, Eric K. Brandt, Bruce I. Sachs, and\nEve E. Slater, M.D., F.A.C.C., received a majority of votes cast. Their terms\nwill expire at the 2009 Annual Meeting of Stockholders.\n\"I am pleased to announce that Eric Brandt, Bruce Sachs and Eve Slater\nhave been re-elected to Vertex's Board,\" stated Dr. Boger. \"Eric, Bruce and\nEve bring a broad range of experience and expertise to our Board, and we\nexpect that they will continue to make significant contributions to the\nCompany in the years ahead.\"\nAt a Board of Directors meeting held subsequent to the Annual Meeting of\nStockholders, the Board of Directors addressed two corporate governance\nissues: the creation of a non-executive Chairmanship of the Board of\nDirectors and the adoption of a policy regarding the election of directors.\nAt the meeting of the Board of Directors, Charles A. Sanders, M.D. was\nappointed Chairman of the Board. Joshua Boger, who has been the Company's CEO\nsince 1992, had served in the additional role of Chairman of the Board since\n1997. The Board of Directors believes that the appointment of Dr. Sanders is\nappropriate at this time, in view of the current sentiment in the corporate\ncommunity that the positions of Chairman of the Board and CEO should be held\nby separate individuals. Dr. Sanders has been a member of Vertex's Board\nsince 1996 and serves as the Chair of the Corporate Governance and Nominating\nCommittee of the Board of Directors. He has held various leadership positions\nat major pharmaceutical companies, including Chairman of Glaxo Inc. and Vice\nChairman at Squibb Corporation. Dr. Boger will continue to serve as the\nCompany's President and CEO.\n\"I am pleased to announce that Charles Sanders has agreed to serve ...