Scrushy: My Board Seat, Please

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After a stunning acquittal in his accounting fraud case, HealthSouth founder and former CEO Richard Scrushy wants his job back.

The $2.7 billion USD case of accounting fraud now over, Mr. Scrushy wants to return to the board of directors for HealthSouth. And the board doesn’t want him.

The board has made repeated requests that Mr. Scrushy resign his board seat. Mr. Scrushy has refused, citing his innocence regarding the charges against him.

“He intends to continue as a director,” said Scrushy spokesman Charlie Russell. “He intends to pursue all of his options, and he will seek to be restored to everything that was taken from him by his illegal termination as chairman and CEO.”

Only a shareholder vote can force him to resign from the board. Mr. Scrushy is HealthSouth’s largest individual stockholder with over 3 million shares.
The issue will be a contentious one when HealthSouth resumes shareholder meetings next year. Mr. Scrushy’s name will not be among the nominees seeking a seat on the board, according to a HealthSouth spokesperson.

Current Board Chairman Robert May was more direct in commenting on the issue. “Under no circumstances will Mr. Scrushy be offered any position within the company by this management team or by this board of directors.”

David Utter is a staff writer for WebProNews covering technology and business. Email him here.

Scrushy: My Board Seat, Please
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