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UnitedHealth CEO Ousted Over Options

Law360 (October 16, 2006, 12:00 AM EDT) -- The CEO of UnitedHealth Group has been forced out of his position by the options backdating scandal that has engulfed the company.

The health care provider’s board has mandated that Dr. William McGuire step down from his post on or before Dec. 1. He has also relinquished his position as chairman of the company’s board of directors, as well as his place on the board.

McGuire voluntarily agreed to reprice all the options awarded to him by the company between 1994 and 2000. The grants will...
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