Proxy firm Glass Lewis backs NextGen's slate in proxy contest

Nextgen Healthcare

05/10/2021 14:13

NEW YORK, Oct 5 (Reuters) - Glass Lewis & Co recommended
that NextGen Healthcare Inc  NXGN.O  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," the Glass Lewis report, issued this week, said.
    Last week, Institutional Shareholder Services also 
recommended that NextGen Healthcare Inc shareholders elect
management's four board nominees. Glass Lewis and ISS both
recommend that shareholders eliminate cumulative voting and
reincorporate the company in Delaware.
    Razin, who has served on the board since 1974, has nominated
four directors and has criticized the company's poor financial
returns. Shareholders will vote on Oct. 13. 
    

 (Reporting by Svea Herbst-Bayliss)
 ((svea.herbst@thomsonreuters.com; +617 856 4331; Reuters
Messaging: svea.herbst.thomsonreuters.com@reuters.net))