Ariad CEO Berger to step down in investor deal
This article was originally published in Scrip
Executive Summary
Ariad's CEO Harvey Berger is to retire from the Cambridge, Massachusetts-based biotech firm following mounting pressure from activist investor Sarissa Capital Management. Investors welcomed news of the agreement as the firm's stock rose from $8.87 at the end of 28 April to $9.27 by 10.30 am on 29 April following the announcement.