After facing pressure from hedge fund Appaloosa LP to separate the roles of chairman and CEO, Allergan announced its intent to do so.
Allergan said it would support a shareholder proposal that will require "an independent board chair to be phased in during the next leadership transition."
The announcement "reflects our board's ongoing commitment to active board refreshment and governance best practices, as well as continuous engagement with our shareholders," said Chris Coughlin, the lead independent director of Allergan's board.
No further details about the proposal were disclosed.