Proxy firm Glass Lewis backs NextGen’s slate in proxy contest By Reuters
NEW YORK (Reuters) – Glass Lewis & Co recommended that NextGen Healthcare (NASDAQ:) Inc shareholders elect management’s slate of directors, becoming the second prominent proxy advisory firm to support the board and management over the company’s founder, Sheldon Razin.
“Given the circumstances, we believe shareholders will likely be best served supporting the board’s current slate, one that
already reflects a significant refreshment that includes the Company’s recently-hired CEO and three other brand new
Nominees” was the Glass Lewis report that was released this week.
Institutional Shareholder Services suggested last week that NextGen Healthcare Inc shareholders choose the four members of its Board. Glass Lewis, ISS and ISS suggest that shareholders remove cumulative voting rights and reorganize the company in Delaware.
Razin has been on the board of directors since 1974. He has appointed four directors, and has criticised the poor financial performance. On October 13, shareholders will be able to vote.
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