How the pursuit of shareholder value weakened the economy

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This drama is taking place in part because these directors have insane compensation packages — they're massive, despite the fact that the company has been engulfed in scandal for the last year.   Mylan makes EpiPen, the life-saving anti-allergy medication, and since it bought the drug in 2007, it has raised the medication's price over 500%. During the public outcry that followed, CEO Heather Bresch was called to testify before Congress in fall 2016 and Mylan's stock price was hammered. Still, the price of an EpiPen didn't change, and Chairman and former CEO Robert Coury walked away with $97 million that year.

So these shareholders, who collectively own $170 million worth of Mylan shares, are mad. They include three of the four biggest pension funds in the United States.  "Last year was a new low for the Mylan Board. At its core, the EpiPen price-hiking controversy was the costly consequence of a Board with a history of oversight failures," said NYC Comptroller Scott Stringer. "From allegedly overcharging both the government and consumers for its life-saving EpiPen to approving exorbitant pay for its deeply entrenched Chairman, Mylan’s Board has repeatedly enabled self-serving executives at shareowners’ expense. The New York City police officers, teachers, firefighters and other City employees who rely on our pension funds for their retirement security deserve better."

EpiPen maker Mylan shareholder meeting on compensation - Business Insider