WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) received its final $15.6 million payment of compensation from the 1997 sale of the Elk Hills Naval Petroleum Reserve as part of the $1.1 trillion budget appropriation bill signed into law today by the President.
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System’s (CalSTRS) Corporate Governance 2014 Annual Report shows its engagement with small-cap companies yielded remarkable progress in the adoption of majority voting standards for the election of corporate directors.
The Corporate Governance 2014 Annual Report reflects four years of work with small-cap companies—those with a capitalization of $2 billion or less—to adopt the majority-vote standard. The standard requires directors to receive a majority of shareholder support to be elected to the board.
A Securities and Exchange Commission investor sub-committee chaired by Anne Sheehan, Corporate Governance Director at California pension giant CalSTRS, has made a set of recommendations in the wake of a furore last year over vote tallies at JPMorgan’s AGM that involved proxy voting services firm Broadridge.
CalSTRS Chief Investment Officer Christopher J. Ailman was named one of the top 100 public investors in the world by the Sovereign Wealth Fund Institute. Mr. Ailman ranked number 15 out of the list of 100.
The Sovereign Wealth Fund Institute’s choice was driven in part by Mr. Ailman’s activity in industry groups, promotion of collaboration and fight for the rights of public asset owners. He was also keen on developing a team to conduct independent research and seek opportunities to diversify equity risk.
CalSTRS investment chief wields influence over public companies
Chris Ailman took a large pay cut to work in the public sector and doubted he would stay there for long. But after Ailman, now chief investment officer for the California State Teachers’ Retirement System, moved to Sacramento in the 1980s to become the county’s chief investment officer, he found the job suited him.
CalSTRS and CalPERS board diversity campaign targeting California companies receives 35 letters from all-male boards indicating willingness to add women
At least 15 companies based in California have added a female director to their all-male boards and 35 have indicated a willingness to do so after a board gender diversity campaign launched by state pension giants CalSTRS and CalPERS targeting 131 companies in the state.
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