Here are four takeaways:
1. Randy Simpson and Matt Ripperger jointly submitted a letter to the board, citing “irreconcilable differences.”
2. Their resignations are effective immediately.
3. Tenet disclosed the exits with Securities and Exchange Commission in a Form 8-K filing, according to Street Insider.
4. In the letter, Mr. Simpson and Mr. Ripperger wrote their resignations are driving the expiration for Gleview’s “standstill” agreement with Tenet. In 15 days, Glenview may “evaluate other avenues to be a constructive owner of Tenet.”
