Thursday, December 15, 2011

Amgen names new CEO, raises quarterly dividend

Amgen names new CEO, raises quarterly dividend

LOS ANGELES, Dec 15 - Amgen Inc , a world's largest biotechnology company, pronounced Chief Executive Officer Kevin Sharer will retire subsequent May, and be transposed by Chief Operating Officer Bob Bradway.

Sharer, 63, will retire as authority during a finish of 2012. He has been Amgen's CEO given 2000, over a duration in that a company's batch cost has been mostly flat.

"He did not emanate a lot of shareholder value in his tenure. Whether that was his error or not is a question," pronounced Cowen & Co researcher Eric Schmidt.

Shares of a Thousand Oaks, California-based association have suffered after reserve concerns were lifted several years ago about a reserve of a flagship anemia drugs, Epogen and Aranesp.

Schmidt pronounced it was a bit startling that Sharer did not stay in his post by a common retirement age of 65.

Given a miss of appreciation in Amgen's shares, a CEO's remuneration package has also drawn glow from some investors.

ISS Proxy Advisory Services pronounced in a news progressing this year that "above-median bench-marking and a 53 percent boost in CEO compensate in 2010 have resulted in a poignant misalignment between compensate and performance."

Sharer told Reuters in Apr that a government transition during Amgen was expected "in a subsequent few years."

The drugmaker also announced on Thursday a travel in a quarterly pision of scarcely 30 percent.

The company, that began profitable a pision only final year, announced a first-quarter remuneration of 36 cents a share to shareholders of record as of Feb 15, 2012. The prior quarterly pision remuneration was 28 cents a share.

Amgen, that recently bought behind scarcely 10 percent of a superb shares, has pronounced it is committed to returning during slightest 60 percent of a gain to investors. The association has also pronounced it intends to meaningfully boost a pision over time.

Bradway will turn CEO on May 23, 2012, and will also turn authority of a house during a finish of subsequent year, when Sharer retires from that position, a association pronounced in a matter on Thursday.

Amgen pronounced Roger Perlmutter, 59, will retire as executive clamp boss of investigate and growth subsequent February, remaining as a consultant by Feb 2013.

Chief Medical Officer Sean Harper was named to reinstate Perlmutter.

Shares of Amgen, that rose 1.7 percent to tighten during $58.62 in unchanging trading, were small altered during $58.80 after hours.

(Reporting by Deena Beasley; Editing by Bernard Orr and Richard Chang)


News referensi http://news.yahoo.com/amgen-names-ceo-raises-quarterly-dividend-221544644.html

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