A shareholder advisory body lambasted the proposed boardroom structure at a merged Boots-Alliance UniChem yesterday, describing it as "potentially opaque" and warning that it risked making Richard Baker a lame-duck chief executive.
Pensions Investment Research Consultants (Pirc), which advises investors on corporate governance, became the first corporate governance watchdog to speak out against the proposed £7bn tie-up after another day that suggested the City was still wary of the proposed move.
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