As expected, shareholders voted to re-elect four UnitedHealth directors at the company's annual meeting this morning despite widespread criticism of the generous compensation packages awarded to CEO Bill McGuire and other top management. Yesterday, UnitedHealth announced a series of changes intended to address shareholder concerns. The company said it will discontinue the practice of equity based awards to senior executives. Also gone is severance compensation in the event of takeover and perks like reimbursement for personal use of corporate aircraft.
- read this article [1] from The Wall Street Journal (sub. req.)
- see this article [2] from The Minneapolis Star Tribune
Links:
[1] http://online.wsj.com/article/SB114658023160641495.html?mod=health_home_stories
[2] http://www.startribune.com/535/story/405405.html