Sallie Mae has a 35-year history of splitting the board chair and chief executive positions other than the recent three-week period where Lord held both positions.

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But ImClone says the board was already splitting the pipeline and Erbitux into two separate companies as a way to unlock shareholder value.

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Discussion and questions also centered on Board nomination processes, splitting the CEO and Chairman role, compensation, allocation of political contributions, and amount of legal fees.

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