Jonathan Bush, a nephew of one president and cousin of another, stepped down as chief executive of Athenahealth under intensifying pressure from Elliott Management, which last month made a hostile takeover offer for the company. The $35 billion hedge fund is renowned for its use of sharp-elbowed tactics to accomplish its investing goals. Late last month, a 2005 court filing that accused Mr. Bush of hitting his ex-wife surfaced. A few days later, Bloomberg News reported on a 2007 complaint filed with Massachusetts regulators by a female employee who cited inappropriate conduct by Mr. Bush. For now, the company said, it will be run by Jeffrey R. Immelt, the chairman of the Athenahealth board and until last year the chairman and chief executive of General Electric.

Source: New York Times June 06, 2018 15:05 UTC