A UnitedHealth shareholder proposed that the healthcare group should require an independent board chair, currently held by CEO Stephen Hemsley. The Accountability Board believes this consolidation of power decreases checks and balances. Hemsley took the CEO role after his predecessor resigned in May and has served as board chair since 2017.

The proposal states that having one person in both roles is far from the independent oversight shareholders need. The Accountability Board, with at least $25,000 stake in UnitedHealth, aims to address this issue as the largest U.S. health insurer tries to rebuild shareholder confidence. UnitedHealth missed earnings targets for two quarters, adjusted its 2025 outlook, and dealt with various challenges in recent years.

UnitedHealth has faced setbacks like missing earnings targets, a cyberattack, the murder of an executive, and a federal investigation into its government-backed health plans. This comes as the company aims to address shareholder concerns and regain trust. The proposal by the Accountability Board highlights the importance of independent oversight in corporate governance.

Read more at Yahoo Finance: UnitedHealth shareholder proposes independent board chair