We are writing today to inform you of our intention to vote against the Board’s amendment to the Bank of America bylaws, which would provide for either an independent Chair or a Lead Independent Director. We have stated many times in previous correspondence that CalSTRS fundamentally supports a leadership structure with an independent Chair. We believe the roles of CEO and Chair of the Board, have inherent conflicts which require the two posts to be separate and independent.
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System’s (CalSTRS) Investment Committee today updated their Corporate Governance Principles to expand the definition of board diversity to include sexual orientation and gender identity.
WEST SACRAMENTO, Calif. – Institutional investors representing more than $3 trillion in assets under management, along with some of the nation’s leading women’s organizations, sent letters to 100 companies in the Russell 1000 Index that lack women on their boards of directors, urging them to embrace gender diversity.
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS), in collaboration with the California Public Employees’ Retirement System (CalPERS), sent the 131 California companies in their portfolios that lack women directors a letter offering their combined expertise to help diversify their boards.
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) today announced the election of Corporate Governance Investment Officer Aeisha Mastagni to the Board of Directors of the International Corporate Governance Network (ICGN).
NEW YORK, NY – The Diverse Director DataSource (3D), a new resource for finding untapped talent to serve on corporate boards, is now open for corporations, search firms and shareowners looking for diverse talent for corporate boards.
WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) today voted against the Walt Disney Company’s decision to combine the Chairman and Chief Executive Officer (CEO) position. CalSTRS also opposed Disney’s compensation plan for the CEO, calling the governance and nominating committee actions a return to poor governance practices of the past.
WEST SACRAMENTO, CA – Since its inception, Facebook has created a new way for the world to communicate. What started in a college dorm room, Mark Zuckerberg turned into a great enterprise that revolutionized social networking.
WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) applauds the appointment of its longtime corporate governance partner, Ralph Whitworth, to the Hewlett-Packard Board of Directors.
The California State Teachers’ Retirement System (CalSTRS) applauds the appointment of its longtime corporate governance partner, Ralph Whitworth, to the Hewlett-Packard Board of Directors.
While CalSTRS is disappointed with the outcome of today’s News Corp. annual meeting, we are not surprised, given the disenfranchisement of certain shareholders.
However, we are heartened by the strong showing of support for governance changes at the company. The high number of withholds for certain directors demonstrates the strong desire of unaffiliated shareholders, such as CalSTRS, for a more independent board. In addition, the large negative vote on News Corp.’s say-on-pay proposal shows a greater need for alignment of interest between shareholders and management.
WEST SACRAMENTO, CA – The California State Teachers’ Retirement System withdrew all eight of its board diversity shareholder proposals filed during the 2011 proxy season after successfully engaging companies to consider diversity in director searches.
In recent years, the issues of board of director leadership and oversight roles have taken on increased significance to long-term investors, such as CalSTRS. Today’s economic challenges highlight the importance that board diversity plays in enhancing value and providing companies with a full range of fresh talent and experience.
SACRAMENTO, CA - The California State Teachers’ Retirement System (CalSTRS) and the California Public Employees’ Retirement System (CalPERS) are working with an Advisory Panel of leading corporate governance experts to develop a new digital resource devoted to finding untapped diverse talent to serve on corporate boards.
WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (“CalSTRS”) and Relational Investors LLC (“Relational”) endorse the decisive initiatives announced today by Occidental Petroleum Corporation (“the Company”) relating to CEO succession planning, executive compensation reform, and board composition.
WEST SACRAMENTO, CA– The California State Teachers’ Retirement System (CalSTRS) today announced support for a dissident slate of director candidates for the board of Texas Industries. CalSTRS owns more than 67,700 shares of Texas Industries (TXI), accounting for 0.24 percent of shares outstanding.
WEST SACRAMENTO, CA– Firms named in six of eight shareholder proposals filed this year agreed to calls by the California State Teachers’ Retirement System (CalSTRS) to seek greater diversity in their board directors.
SACRAMENTO, CA– Leading proxy advisor, RiskMetrics Group, states a California State Teachers’ Retirement System resolution filed with Liberty Global Inc. warrants shareholder support. The CalSTRS resolution, if enacted, would result in a diverse board of directors.
Proposal #3, filed by CalSTRS, calls for Liberty Global to:
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The California State Teachers’ Retirement System website has been developed in compliance with California Government Code §11135, which requires that all electronic and information technology developed or purchased by the State of California is accessible to people with disabilities. There are various types of physical disabilities that impact user interaction on the web. Vision loss, hearing loss, limited manual dexterity, and cognitive disabilities are examples, with each having different means by which to access electronic information effectively.