Indivior Embraces New Board Appointments from Oaktree
Deal News | Dec 18, 2024 | Olshan Frome Wolosky LLP
Oaktree Capital Management L.P. has reached an agreement with Indivior PLC to appoint two new non-executive directors, Robert Schriesheim and Joe Ciaffoni, to the company's board. This move is part of a larger arrangement involving adjustments to the board and its committees. The legal representation for Oaktree in this agreement was managed by Olshan Frome Wolosky LLP, with key figures from their Shareholder Activism Practice leading the efforts. This strategic collaboration highlights a significant shift in board composition and governance for Indivior.
Sectors
- Private Equity & Investment Management
- Pharmaceuticals
- Legal Services
Geography
- United States – Oaktree Capital Management is based in the United States, and Olshan Frome Wolosky LLP is a U.S. law firm.
- United Kingdom – Indivior PLC is listed on the London Stock Exchange and operates primarily in the UK.
Industry
- Private Equity & Investment Management – The article discusses Oaktree Capital Management, highlighting its role in shareholder activism and board appointments.
- Pharmaceuticals – Indivior PLC operates in the pharmaceuticals industry, which is relevant due to the changes in its board composition.
- Legal Services – Olshan Frome Wolosky LLP's role in facilitating the agreement brings the legal services industry into focus.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Indivior PLC | Company appointing new board members | Company | A pharmaceutical company listed on Nasdaq and LSE, engaged in the development and sale of medication for addiction treatment. |
| Oaktree Capital Management L.P. | Investor securing board representation | Company | A global asset management firm known for its focus on alternative investments, including private equity. |
| Olshan Frome Wolosky LLP | Legal advisor to Oaktree Capital | Company | A law firm specializing in shareholder activism and corporate governance. |
| Robert Schriesheim | Independent Non-Executive Director | People | Appointed to the board of Indivior, representing interest from Oaktree. |
| Joe Ciaffoni | Independent Non-Executive Director | People | Appointed to the board of Indivior, representing interest from Oaktree. |
| Kenneth Mantel | Shareholder Activism Partner | People | Led the Olshan team representing Oaktree's interests. |
| Steve Wolosky | Chair Emeritus | People | Part of Olshan's leadership team involved in the representation of Oaktree. |
| Andrew Astore | Associate | People | Team member from Olshan assisting in the Oaktree-Indivior agreement. |