UnitedHealth adopts new governance policy

Under pressure from major shareholders, the United Health Group said it will adopt new corporate governance rules. The changes are designed to limit the power of individual board members and increase organizational transparency. The Minnesota-based health plan has faced mounting problems since The Wall Street Journal ran a series of critical articles challenging the company's compensation practices for top management. Attention has focused on CEO Dr. William McGuire, who the company rewarded with stock-options worth at least $1.6 billion over the course of the last decade. Allegations that McGuire received back-dated options have triggered an investigation by the SEC and a series of shareholder lawsuits.

- see this article from The Wall Street Journal (sub. req.)

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