Ahmed Hussein reveals today that the report of independent proxy advisor, ISS, on Quality Systems, Inc. contains inaccuracies and fails to analyze many of the key issues raised by Dr. Hussein. Dr. Hussein is opposing the Company's proposed slate of Director-nominees at the upcoming annual meeting on September 21, 2005 in Irvine, California and has proposed his own slate of three directors.
Dr. Hussein is disappointed that the 25-page ISS report contains less than two pages of "analysis" given the increased regulatory scrutiny and public concern for transparency in all aspects of corporate governance. Those two pages of "analysis" fail to address such key issues as director compensation, which Dr. Hussein believes is excessive given the size and history of the company. Moreover, Dr. Hussein believes that the significant increases in director compensation approved by the current board over the past year go to the very core of whether the board can, in fact, act independently. The NASD Interpretation on the definition of independence states "[i]t is important for investors to have confidence that individuals serving as independent directors do not have a relationship with the listed company that would impair their independence."
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