Forest Laboratories shareholders approve directorial nominees

Forest Laboratories has announced that its shareholders have elected its entire slate of directorial nominees during the company's annual meeting.

Preliminary voting estimates from the firm's proxy solicitors suggest that all nominees have been approved by a significant margin, meaning that Christopher Coughlin, Gerald Lieberman and Brenton Saunders will all be joining the board.

Their election coincides with the departure of William Candee and George Cohan, both of whom were thanked for their contributions to the company.

All other proposals submitted to a vote at the annual meeting have also been ratified by investors, including the advisory vote on executive compensation.

Kenneth Goodman, Forest's presiding independent director, said: "We greatly appreciate the strong support from our shareholders and the confidence they have placed in us by electing all of our highly qualified nominees."

Last month, the company announced its results for the first quarter of the new business year, during which it saw an 8.2 percent year-on-year increase in net sales.