Is Brent Saunders too powerful?

One major hedge fund thinks so. Appaloosa Management, an Allergan shareholder, has again called for the company to split the roles of chairman and chief executive, which would mean stripping CEO Brent Saunders of the former title.

That would address Allergan’s “chronic underperformance,” Appaloosa contends in a letter to the board, and it would bring the company in line with the majority of firms the S&P 500, which employ different human beings to do those jobs.

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