7/1/2011
A hallmark of UPMC’s success is its commitment to best-in-class corporate governance practices, including making timely and transparent financial disclosures, maintaining the highest possible bond ratings and being the only non-profit health care entity to voluntarily comply with provisions of Sarbanes-Oxley.
In an effort to proactively continue to work toward the highest possible governance standards, UPMC’s Board was recently restructured to enable it to streamline the manner by which it fulfills its fiduciary responsibilities in meeting the challenges presented by health care reform and current market and regulatory dynamics. At the same time, UPMC’s Board decided to establish a new “Board of Visitors” as another mechanism for obtaining input from a broad group of community and other business leaders on how UPMC can best fulfill its public and charitable mission.
These changes are the product of a year-long, comprehensive Board self-evaluation and the next step in the natural evolution of UPMC’s best-in-class corporate governance practices.