Worldwide Healthcare backs board members after shareholders express independence concerns

Doug McCutcheon and Sven Borho

The board of Worldwide Healthcare has defended two of its directors after a fifth of shareholders voiced concern about the pair’s independence at the trust’s annual general meeting.

While all the resolutions proposed at the company's 10 July AGM passed, 20% of shareholders cast votes against motions to re-elect Doug McCutcheon and Sven Borho as directors of the company.  In a London Stock Exchange notice issued on Friday (15 November), the board acknowledged that some shareholders had doubted McCutcheon's independence due to his length of service on the board, totalling 11 years.  IA denies House of Lords claims of conspiratorial nature in members meeting about cost disclosure Similarly, Borho's other role as a managing partner at OrbiMed Capital, the trust's ...