Once again — feel free to add your own narrative, here — this Wall Street Journal stuff just writes itself, some mornings — do go read it all:
. . . .Actelion Ltd. on Wednesday named. . . former Schering-Plough Chief Financial Officer Robert Bertolini to join the biotechnology company’s board in an attempt to deflect pressure from U.K. investment firm Elliott Advisors that has proposed six members of its own to uproot the Swiss firm’s top brass and pave the way for a potential sale. . . .
To be fair, he was also picked to help the institutional investors be heard, in the Genzyme situation of early 2010. However, literally just a few hours ago (per the Boston Globe), Sanofi took control of Genzyme — so the mollify strategy didn’t seem to work in that situation, longer term.