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Myriad Genetics Files Fiscal Year 2020 Proxy Statement, Implements Corporate Governance Changes In Support of Stakeholder Interests

SALT LAKE CITY, Oct. 15, 2020 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ: MYGN), a global leader in molecular diagnostics and precision medicine, announced today that the company has filed its fiscal year 2020 proxy statement and made significant changes to its board structure, executive compensation and corporate governance policies to better serve key company stakeholders.
a??Myriad has executed a significant effort during my time as Chair to improve corporate governance to reflect shareholder interests while continuing our mission to improve and transform lives,a?? said S. Louise Phanstiel, chair of the Board of Directors, Myriad Genetics. a??By the end of this year, two-thirds of our board will consist of new members who bring deep healthcare and technology expertise spanning payer markets, product development, information technology, and business management. By intensifying our focus on corporate governance and transparency, Myriad is now positioned to advance its leadership in the healthcare industry.a??Board MembershipAAAAAAAA
Since the fall of 2019, Myriad has added six new members to its board of directors and announced the retirement of three board members. New board members include Lee N. Newcomer M.D., Colleen F. Reitan, Daniel M. Skovronsky M.D., Ph.D, Daniel K. Spiegelman, Rashmi Kumar, and Paul J. Diaz. Retiring from the board of directors following the annual meeting on December 4, 2020 are John T. Henderson, M.D., Lawrence C. Best, and Walter Gilbert, Ph.D. In March 2020, S. Louise Phanstiel assumed the role of board chair. The new board structure is designed to combine the continuity of tenured directors with new perspectives from recently added members with broad experience in managed care, health technology, and financial oversight.In addition, Myriad is enacting new policies that reflect industry best practices, including:

Moving from plurality voting to majority voting for directors



Implementing a retirement process for directors at age 75



Expanding the scope of the Audit and Finance Committee and redefining the Strategic Committee to the new Research and Product Innovation Committee



Enhancing board diversity with 44% of board members now reflecting diverse backgrounds

Related Executive Compensation Changes
Myriad also is making multiple changes to its compensation policies to match business performance with compensation. These changes include:
See also:
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