1. Universal Health Services a Union Target During Proxy Season

    Universal Health Services a Union Target During Proxy Season

    Describing King of Prussia-based Universal Health Services Inc. as having a “uniquely entrenched governance structure,” a union-affiliated investment research group has urged the company’s shareholders to withhold their support for the reelection of Lawrence S. Gibbs to the UHS board. Gibbs, who has been a board member since 2011, is the ...

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    1. Our analysis has convinced us that the risk of regulator enforcement actions against UHS is considerable, but our efforts to convince the board to respond to these risks by reforming its outdated and entrenched structure have been unsuccessful.
    2. Because UHS maintains a unique combination of a classified board and differential voting power for shares held by insiders, and because it dedicates five of seven board seats to be elected solely by company insiders, shareholders have few mechanisms to make their voices heard and to hold directors accountable.
    3. We believe providing access to a company's proxy by giving shareowners the ability to nominate directors to the board is one of the most important rights for owners of a company.
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