CalSTRS has conducted an assessment of AB 340, the California
Public Employees’ Pension Reform Act of 2013, and its impact on
CalSTRS members and operations and outlined key changes.
WEST SACRAMENTO, CA – Shareholders today voted 53 percent to
support the California State Teachers’ Retirement System
(CalSTRS) proposal to split The Timken Company into separate
steel and ball bearing businesses. The move will unlock greater
shareholder value, CalSTRS officials announced at the annual
shareholder meeting in Canton, Ohio.
WEST SACRAMENTO, CA – Despite California State Teachers’
Retirement System (CalSTRS) support, Occidental Petroleum Board
Chairman Ray Irani failed to receive a majority of shareholders’
support. The vote took place today at the company’s annual
meeting in Los Angeles.
WEST SACRAMENTO, CA – The California State Teachers’ Retirement
System (CalSTRS) today issued the following statement, attributed
to Director of Corporate Governance Anne Sheehan.
Shareholders Able to Send Timken Board A Message to Unlock Shareholder Value by Voting for CalSTRS’ Proxy Proposal to Have Timken’s Two Core Businesses Separated, Eliminating The Stock’s Long-Standing “Conglomerate” Discount
WEST SACRAMENTO, CA – The California State Teachers’ Retirement
System (CalSTRS) today issued the following statement regarding
its votes at the Walt Disney Company Annual Shareholder Meeting
in Phoenix, Ariz. This statement is attributable to CalSTRS
Director of Corporate Governance, Anne Sheehan.
Corporate Governance Director Anne Sheehan lays out CalSTRS’
issues with The Walt Disney Company’s governance
structure—especially the current combined role of CEO and Board
Chair—and CalSTRS intent to vote against this and other
structural shortcomings at Disney’s March 6, 2013 annual meeting.
WEST SACRAMENTO, CA – The California State Teachers’ Retirement
System (CalSTRS) today announced its vote at the March 6, 2013,
Walt Disney Company annual shareholder meeting. A detailed vote
tally and analysis are available in the Corporate Governance
section of the CalSTRS website.
WEST SACRAMENTO, CA – CalSTRS, the California State Teachers’
Retirement System, and pension plans from New York, Illinois,
North Carolina and Connecticut today announced success in
achieving corporate board accountability via proxy access at
Nabors Industries, Ltd.—the first such victory at a U.S. public
company.
WEST SACRAMENTO, CA – The Teachers’ Retirement Board, the
governing body of CalSTRS, today took legal action on behalf of
Wal-Mart against current and former Wal-Mart board members. The
derivative action lawsuit(PDF – 132
KB) alleges bribery and a subsequent cover-up in the
corporation’s Mexico expansion.
WEST SACRAMENTO, CA – The
California State Teachers’ Retirement System’s successful
engagement efforts during the 2011 proxy season resulted in the
withdrawal of 21 of 26 proposals for a majority vote in corporate
board elections.
WEST SACRAMENTO, CA – The California State Teachers’ Retirement
System (CalSTRS) and Relational Investors LLC (Relational) are
supporting the election of all Occidental Petroleum Board
nominees at the company’s annual meeting scheduled for May 6,
2011.
CalSTRS and Relational are satisfied with the changes the company
announced in October 2010 regarding executive compensation, CEO
succession planning, and director retirement policy. CalSTRS and
Relational support these initiatives and plan to continue to work
with the board to maximize long-term shareholder value.
WEST SACRAMENTO, CA – The California State Teachers’ Retirement
System (“CalSTRS”) and Relational Investors LLC (“Relational”)
issued the following statement in response to the appointments of
Robert J. Bertolini and Richard F. Wallman to the Charles River
Laboratories International, Inc. (“the Company”) Board of
Directors:
WEST SACRAMENTO, CA – The California State Teachers’ Retirement
System (“CalSTRS”) and Relational Investors LLC (“Relational”)
commend today’s election of its nominee, Margaret “Peggy” Foran,
to the Occidental Petroleum Corporation (“the Company”) Board of
Directors.
The election, along with the previously announced series of
reforms regarding CEO succession planning, executive
compensation, and board composition, successfully satisfies the
terms of the October agreement between CalSTRS/Relational and the
Company.
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 issued the following statement.
CalSTRS wholeheartedly rejects the assertions made by the U.S.
Chamber of Commerce and the Business Roundtable in their Sept. 29
lawsuit against the Securities and Exchange Commission’s Aug. 25
proxy access ruling. CalSTRS will explore all possible options,
including legal strategies to oppose this action to roll back
shareholder rights.
WEST SACRAMENTO, CA – The
California State Teachers’ Retirement System (CalSTRS) withdrew
21 of 28 shareholder proposals filed during the 2010 proxy season
after successfully engaging companies to make corporate
governance changes.
WEST SACRAMENTO, CA – The California State Teachers’ Retirement
System (CalSTRS) today applauded the Securities and Exchange
Commission’s (SEC) ruling to provide greater shareholder access
to the corporate proxy ballot.
In a 3 to 2 decision, the SEC commissioners today broke years of
deadlock by allowing shareholders with at least a 3 percent stake
in a company’s stock, held for three years, to nominate directors
on a company’s proxy ballot. The issue has been a longstanding
priority for CalSTRS.
WEST SACRAMENTO, CA– The California State Teachers’ Retirement
System (CalSTRS) today issued this statement:
CalSTRS joins with its partner state pension funds and plan
sponsors, representing 7 million active and retired employees,
with combined assets of more than $1 trillion in applauding
meaningful financial regulatory reforms signed into law today by
President Obama.
WEST SACRAMENTO, CA– The California State Teachers’ Retirement
System (CalSTRS) has notified the board of directors at Charles
River Laboratories, Inc. (NYSE: CRL), that it will not support
the drug research company’s buyout of China’s WuXi PharmaTech Inc
(NYSE: WX).
In a letter to directors, CalSTRS said the high price for WuXi
“adds unnecessary risk” and “does not offer Charles River
shareholders sufficient returns.” CalSTRS also expressed concern
that the board might alter terms of the deal to permit the
acquisition without shareholder approval.
WEST SACRAMENTO, CA– The California State Teachers’ Retirement
System (CalSTRS) today praised action by Senate and House
negotiators to reach agreement on financial regulatory reform
legislation. The full House and Senate are expected to act on the
measure next week.
Your retirement benefit is based on a formula (Service Credit x
Age Factor x Final Compensation = Member-Only Benefit). How
confident are you in your understanding of how this formula
determines your Member-Only Benefit amount?
