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When Stephen Hemsley took over as chief executive of United - Health Group in December 2006, he inherited a bit of a governance mess. Since March of that year, the company had been embroiled in an options backdating scandal, making it the target of both SEC and Justice Department investigations. The board had lost credibility when for months it refused to oust CEO William McGuire, even as dozens of other companies were dismissing chief executives over similar allegations.
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