differences@ (Adds background on Glenview stake, standstill agreement)
NEW YORK, Aug 18 (Reuters) - Glenview Capital Management, Tenet Healthcare Corp's largest shareholder, is pulling its two representatives off the hospital company's board, citing "irreconcilable differences" over strategy.
Tenet said on Friday that Glenview executives Randy Simpson and Matt Ripperger had resigned from the board on Thursday.
In a letter Tenet filed with the U.S. Securities and Exchange Commission, Simpson and Ripperger said they had decided "the most effective way forward to promote strong patient satisfaction and long-term value creation for Tenet is to step off this board."
Hedge fund Glenview owned nearly 18 percent of Tenet's shares as of June 30, according to Thomson Reuters data. That stake would be worth around $225 million at yesterday's close.
The fund -- run by investor Larry Robbins -- has reported a stake in Tenet since 2012, but only put its representatives on the board last year. At the time, they signed a support and standstill agreement with Tenet that prevented the company from taking part in or aiding an activist campaign against the company.
The directors stepping down from the board triggers the expiration of that agreement in 15 days. "Glenview may evaluate other avenues to be a constructive owner" of the company, they added.
They said Glenview was fully committed to its ownership stake in Tenet.
Tenet shares rose around 4 percent in before the bell trading. (Reporting by Michael Erman; Editing by Lisa Von Ahn and Phil Berlowitz)