Friday, Oct. 6, 2000 | 11:16 a.m.
SANTA BARBARA, Calif. -- Tenet Healthcare Corp., the No. 2 U.S. hospital company and the owner of Lake Mead Hospital in North Las Vegas, won the backing of the influential California Public Employees' Retirement System in a shareholder proxy fight after Calpers switched sides.
Calpers said in a statement it decided to vote for Tenet's board slate after its officials met with Tenet management. The company said it will add two outside directors within 12 months and change who nominates directors, and said it will consider other changes in the way its board operates.
Last month, Calpers said it agreed with the dissident shareholders led by M. Lee Pearce, a Florida physician and businessman, who are trying to oust Chief Executive Jeffrey Barbakow and three other directors at Tenet.
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