A large health insurer will give investors a chance to vote on whether the company should be more inviting to some outside nominees for seats on its board.
UnitedHealth Group Inc., Minnetonka, Minn., has agreed to include a board nomination procedure proposal from the California Public Employees’ Retirement System in the proxy for its upcoming annual meeting, according to copies of correspondence posted Tuesday on the Web site of the U.S. Securities and Exchange Commission.
UnitedHealth asked the SEC in January for a letter stating that the SEC would take no action against UnitedHealth if UnitedHealth excluded the CalPERS proposal from the annual meeting proxy.
In March, lawyers for UnitedHealth told the SEC the company had worked out a compromise with CalPERS, and they withdrew the company’s request for the no-action letter.