Faced with an independent report by Wilmer Cutler Pickering Hale and Dorr that found widespread problems with the way UnitedHealth Group issued stock options, the nation's second-largest health insurer said on Sunday that chairman and CEO William McGuire will leave the company. Board member William G. Spears will resign, and general counsel David J. Lubben will retire. So far, at least 30 senior executives or directors at 16 companies with stock option problems have resigned or been fired.
October 17, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Faced with an independent report that found widespread problems with the way UnitedHealth Group Inc. issued stock options, the nation’s second-largest health insurer said its chairman and CEO will leave the company.
The company said Sunday that chairman and CEO William McGuire will leave the board immediately and leave the company no later than Dec. 1. Board member William G. Spears will resign, and general counsel David J. Lubben will retire.
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