May 1, 2019 / 10:34 AM / 3 months ago

CORRECTED-Allergan CEO Saunders wins vote to keep chairman role

(Changes first paragraph to show resolution would have been non-binding)

NEW YORK, May 1 (Reuters) - Allergan Plc shareholders have voted down a non-binding proposal that sought an immediate split of the roles of chairman and chief executive, with 61.3 percent of shareholders backing Chairman and CEO Brent Saunders.

Billionaire investor David Tepper's hedge fund Appaloosa LP made the proposal, arguing that Allergan currently has a questionable business strategy and excessive pay for executives.

Proxy advisory firms backed keeping the current structure.

Reuters on Tuesday had reported that enough votes had been cast for Allergan to prevail against Appaloosa. (Reporting by Michael Erman in New York and Saumya Sibi Joseph in Bengaluru Editing by Saumyadeb Chakrabarty)

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