2015 News Releases

2015 News Releases

Overview
Statement Michael Sicilia

CalSTRS CEO Jack Ehnes Responds to the Paris Pledge for Action
Institutional investor confident the deployment of capital to market will balance human versus nature needs

WEST SACRAMENTO, Calif. – CalSTRS Chief Executive Officer Jack Ehnes issued the following statement in response to the release of the COP21 Paris 2015: Paris Pledge for Action:

“As a global, institutional investor, CalSTRS was an early adopter of the actions outlined in the Pledge. We were one of the first public pension funds not just to sign the Pledge, but to lend substantive support via the voices and actions of our stakeholder network. 

News release Ricardo Duran

CalSTRS Corporate Governance Releases Proxy Season Summary Report
Staff voted on 77,461 proxy proposals at 7,923 meetings

WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System’s Corporate Governance staff wrapped up this year’s proxy season where the dominant governance issue was proxy access. Proxy access made up more than 28 percent of the governance proposals compared to 6 percent in 2013–14.

News release Ricardo Duran

CalSTRS is Lead Investor on Energy Productivity Index for Companies Project
Project aims to drive companies to improve energy productivity

WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System today announced its involvement with the Energy Productivity Index for Companies, a new project that will establish the first global energy productivity benchmark for listed industrial companies. The project was officially launched today in New York. 

Letter Ricardo Duran

CalSTRS Letter to Bank of America Regarding Intent to Vote Against Bylaw Amendment

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. 

News release Ricardo Duran

CalSTRS Opens Member Service Center in Riverside’s Citrus Tower
Conveniently-located center to deliver an array of services to Inland Empire members

Riverside Member Service Center

WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) today announced the opening of its fifth full-service member center in Riverside’s Citrus Tower. Other service centers are located in Santa Clara, Glendale, Irvine and at the CalSTRS headquarters in West Sacramento.

News release Ricardo Duran

CalSTRS Releases Fiscal Year 2014-15 Investment Returns
Volatile market drove returns below the actuarially assumed 7.5 percent, but majority of long-term performance remains strong.

WEST SACRAMENTO, CALIF. – Investment returns at the California State Teachers’ Retirement System (CalSTRS) came in at 4.8 percent gross for the fiscal-year-end 2014-15, belying stronger long-term performance for the educator fund with $191.4 billion in assets as of June 30, 2015.

News release Ricardo Duran

CalSTRS Explains Sponsorship of Declassification Proposal at the 2015 Perry Ellis Annual Shareholders Meeting
Believes the Perry Ellis board must be held accountable to shareholders annually to address significant long-term underperformance

5 year average return on invested capital graph

WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) continues to sponsor a shareholder proposal to declassify the board of directors (the board) of Perry Ellis International, Inc. (Perry Ellis or the company) at the company’s upcoming annual shareholders meeting, scheduled for July 17, 2015 (the annual meeting). CalSTRS explains the reasons behind its position.

News release Ricardo Duran

CalSTRS Votes Against Toyota Proposal to Create Dual-Class Shares
Japan-only dual-class share voting structure benefits select shareholders

WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) announced today its decision to vote 4.3 million shares against a proposal at the June 16, 2015, Toyota Motor Corporation annual shareholder meeting that would create a dual-class share voting structure.

Statement Ricardo Duran

CalSTRS Statement on the Results of Trian Slate at DuPont Annual Meeting

Anne Sheehan

WEST SACRAMENTO, Calif. – The following statement is attributable to California State Teachers’ Retirement System (CalSTRS) Director of Corporate Governance Anne Sheehan:

“While CalSTRS is disappointed Trian did not prevail in their bid to seat a slate of nominees to the DuPont Board of Directors, we are encouraged by the changes Trian Partners have driven at the company. DuPont has acted on many of Trian’s early recommendations and, as partners with Trian, we are prepared to work from the outside toward long-term growth in collaboration with the board.

News release Michael Sicilia

CalSTRS Releases Inaugural Sustainability Report, The Next 100 Years
CalSTRS is the first U.S. public pension fund to complete a sustainability report consistent with comprehensive Global Reporting Initiative guidelines

WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) today announced the release of its 2013–14 Sustainability Report: The Next 100 Years. CalSTRS is the first U.S. public pension fund to complete the rigorous and detailed sustainability reporting guidelines consistent with the Global Reporting Initiative .