Avoiding de-Forestation

Forest Laboratories Inc. (NYSE:FRX) intends to introduce some fresh faces in the boardroom, following the intimation by activist investor Carl Icahn that its board and management had become too cozy. The company unveiled a new slate of directors last week that would replace two of its longest serving board members with three new independent nominees.

The new nominees are Christopher Coughlin, former EVP and CFO of Tyco International Ltd. (NYSE:TYC); Gerald Lieberman, former president and COO of investment firm AllianceBernstein Holding L.P. (NYSE:AB); and Brenton Saunders, CEO of Bausch + Lomb Inc...