This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

WebMD To Expand Its Board Of Directors

NEW YORK, June 8, 2012 /PRNewswire/ -- WebMD Health Corp. (NASDAQ: WBMD) today announced that it will appoint David Schechter, a nominee of Carl C. Icahn and certain of his affiliated entities ("Icahn Group"), to its Board of Directors. Mr. Schechter, a Portfolio Manager for Icahn Capital which is WebMD's largest shareholder, will join the Company's Board of Directors immediately following the Company's annual meeting on July 24, 2012. 

"We welcome David Schechter to the Company's Board of Directors and look forward to working with him," said Martin J. Wygod, Chairman of WebMD. "We are committed to building upon our leadership position and making the investments and improvements necessary to foster long term growth and we believe we have the resources and leadership in place to achieve this goal."

"We believe that WebMD is undervalued from a long term perspective," said Mr. Icahn. "As a member of the Board, David will work with the other directors and management to enhance the value of the Company for all shareholders."

"WebMD is clearly a leader in the digital health information services market with unparalleled reach to both consumers and healthcare professionals," said Mr. Schechter.  "I look forward to working with the other directors."

Mr. Schechter currently serves as a Portfolio Manager of the Sargon Portfolio for Icahn Capital, and has held various positions with entities affiliated with Mr. Icahn since 2004. Prior to joining Icahn in 2004, he served as Vice President of Global Special Situations at Citigroup. Mr. Schechter is currently on the board of directors of The Hain Celestial Group, Inc., a natural and organic food and personal care products company, Mentor Graphics Corp., a leader in electronic design automation software, and Federal-Mogul Corporation, an automotive and industrial equipment supplier. Mr. Schechter is a graduate of the Wharton School at the University of Pennsylvania.

The Icahn Group beneficially owns 6,700,525 shares of WebMD common stock, which represents approximately 13.23% of WebMD's outstanding shares. The Icahn Group will vote its shares in support of all of the Board's director nominees at the Company's 2012 Annual Meeting of Stockholders.  

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs