Allergan CEO Saunders hangs on to chairman's title, winning shareholder support — but not by a big enough margin to squelch critics

Brent Saunders will be hanging on to his chairman’s title for awhile longer.

The biopharma reported early Wednesday that 61.3% of its shares were cast in his favor, defeating a move by activist investor Appaloosa to split the CEO and chairman roles Saunders holds and bring in an independent to head the board.