Tenet board adds 2 directors from largest shareholder

Dallas-based Tenet Healthcare added two new independent directors to its board from Glenview Capital Management, effective immediately.

Randolph Simpson and Matthew Ripperger, who are both partners and co-heads of healthcare for Glenview Capital Management, were added to the board and will be included as nominees for election to the board.

"We are pleased to add the expertise of Mr. Simpson and Mr. Ripperger to our board as we work to create long-term value for all of our shareholders," Trevor Fetter, chairman and CEO of Tenet, said in a statement. "Glenview has been a substantial investor in our company for nearly four years and we have appreciated their collaborative approach and constructive input. We look forward to the insights and contributions that Randy and Matt will bring to the board."

In addition to the two appointments, the companies inked an agreement to allow Glenview to propose two additional candidates for appointment as directors effective in 2017. The candidates must be independent of both Tenet and Glenview and are subject to approval by Tenet's board.

Tenet now has a 12-member board, including the following directors.

  • Trevor Fetter, Tenet chairman and CEO
  • Edward Kangas, lead independent director
  • Touche Tohmatsu, former chairman and CEO of Deloitte
  • Brenda Gaines, former president and CEO of Diners Club North America
  • Karen Garrison, former president of Pitney Bowes Business Services
  • J. Robert Kerrey, managing director of Allen & Company and former U.S. Senator
  • Freda Lewis-Hall, MD, executive vice president and CMO of Pfizer
  • Richard Pettingill, former president and CEO of Allina Hospitals and Clinics in Minneapolis
  • Matthew Ripperger, partner and co-head of healthcare of Glenview Capital Management
  • Ronald Rittenmeyer, former chairman, president and CEO of Electronic Data Systems Corp.
  • Tammy Romo, executive vice president and CFO of Southwest Airlines
  • Randolph Simpson, partner and co-head of healthcare of Glenview Capital Management
  • James Unruh, former chairman, president and CEO of Unisys Corp.

 

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