Depomed CEO, Two Board Members Out In Settlement With Investor

Starboard has been trying to replace Depomed management and add its own members to the specialty pharma company's board since at least April 2016. This is the investor's second settlement with the pain and neurology specialist.

Depomed Inc. President and CEO James Schoeneck has resigned and will be replaced by former Bayer HealthCare LLC and Enzon Pharmaceuticals Inc. CEO Arthur Higgins under a "cooperation agreement" with Starboard Value LP, the company's second largest shareholder.

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