HCA shareholders reject two union-backed proposals at annual meeting
HCA
HCA Healthcare's shareholders shot down two union-backed proposals at the investor-owned company's recent annual meeting, one that would have made quality a bigger factor in executive pay and another to oust a director.
The owners of 9.2% of Nashville-based HCA's common stock—representing just shy of 28.5 million shares out of 308.3 million total shares—voted in favor of a bid to study the feasibility of increasing the impact of quality performance on executive compensation. The measure would have needed 'yes' votes from owners of more than 50% of shares to pass.
The owners of 85% of shares voted against the quality measure, which was put forth by a trust fund that provides death benefits to members of the International Brotherhood of Teamsters.