Mylan's price hikes for the EpiPen of 500 percent over nine years is the latest in a series of "poor management" decisions by drugmaker's board, New York City Comptroller Scott Stringer told CNBC on Friday.
Stringer, who serves as custodian and investment advisor to the nation's fourth-largest pension system, called for an "independent board that can right this ship" at Mylan.
"I think this company has serious issues based on independence, oversight, and a long-term strategy," he said. "Our pension fund has a serious investment in Mylan."
"I don't really think they have independent directors. It's a smoke screen," Stringer said on "Squawk Box." "We have [also] always been concerned with their aggressive CEO compensation."
Mylan did not immediately respond to CNBC's request for comment on Stringer's demands.
Addressing the public outcry, Mylan CEO Heather Bresch tried in a recent CNBC interview to justify the repeated EpiPen price hikes to a retail cost of more than $600. The EpiPen list price in 2007 was $100.
"I quite frankly don't know how she can sleep at night knowing there's a real risk that people can't get this product to save lives of children," Stringer said. "They overplayed their hand. I think this is price gouging."