2021 News Releases

2021 news releases

Overview
News release Rebecca Forée

Melissa Norcia announced as new CalSTRS CAO
Norcia joined CalSTRS in 2009 and has served as the director of human resources for the last 6 years

Melissa Norcia

WEST SACRAMENTO, Calif. (September 7, 2021) – The California State Teachers’ Retirement System (CalSTRS), the world’s largest educator-only pension fund, today announced the appointment of Melissa Norcia as the chief administrative officer (CAO). She replaces Lisa Blatnick, who became CalSTRS’ chief operating officer in August 2021. Norcia’s first day as CAO will be September 15, 2021.

News release Karen Doron

CalSTRS Board commits to net zero investment portfolio

WEST SACRAMENTO, Calif. (September 1, 2021) – The Teachers’ Retirement Board (TRB) today committed to achieving net-zero greenhouse gas emissions across its investment portfolio by 2050 or sooner, aligning with the science-based targets of the Paris Agreement.

  • Commitment aligns with accelerated global movement to net zero and will enable Fund to prudently manage risk and identify net zero aligned investment opportunities
  • Four-part implementation framework will guide path to net zero emissions
  • The net zero pledge is rooted in our promise to deliver a secure retirement for California’s educators
News release Karen Doron

Lisa Blatnick announced as new CalSTRS COO
Blatnick joined CalSTRS in 2003 and has served as the chief of administrative services for the last 6 years

Lisa Blatnick

WEST SACRAMENTO, Calif. (August 4, 2021) – The California State Teachers’ Retirement System (CalSTRS), the world’s largest educator-only pension fund, today announced the appointment of Lisa Blatnick as chief operating officer. She replaces Cassandra Lichnock, who became CalSTRS’ chief executive officer on July 1, 2021. Blatnick’s first day as COO will be August 16, 2021.

News release Rebecca Forée

CalSTRS reports 27.2% net investment return for fiscal year 2020–21
Historic fund performance exceeds 30-year return assumption and sets an all-time record

WEST SACRAMENTO, Calif. (July 26, 2021) — The California State Teachers’ Retirement System (CalSTRS) today announced a 27.2% net return on investments for the 2020–21 fiscal year, a record high that far exceeded the investment assumption of 7.0%. Growth was driven by strong performance across all markets, despite the global pandemic. As of June 30, 2021, the total fund value was $308.6 billion—double the value from just 10 years ago.

Statement Karen Doron

Statement on third CalSTRS-backed director joining ExxonMobil board

WEST SACRAMENTO, Calif. (June 3, 2021) – CalSTRS issued the following statement today regarding the preliminary voting results at ExxonMobil’s Annual Shareholder Meeting in which a third director nominated by Engine No. 1 and supported by CalSTRS from the beginning was elected by shareholders to the ExxonMobil board:

Shareholders have the power to effect change at even the most resistant companies and contribute to the sustainable value of their investments.

This historic board election will strengthen ExxonMobil for the future.

Statement Karen Doron

Statement on CalSTRS-backed directors joining ExxonMobil board

WEST SACRAMENTO, Calif. (May 26, 2021) – CalSTRS issued the following statement today regarding the voting results at ExxonMobil’s Annual Shareholder Meeting in which at least two directors nominated by Engine No. 1 and supported by CalSTRS from the beginning were elected by shareholders to the ExxonMobil board:

We called for change at ExxonMobil, and a record number of shareholders, including many of the largest investors in the world, voted to hold the company accountable.

News release Karen Doron

Cassandra Lichnock announced as new CalSTRS CEO
She will be the first female CEO in the pension fund’s 108-year history

Cassandra Lichnock

WEST SACRAMENTO, Calif. (May 19, 2021) – The Teachers’ Retirement Board (Board) announced the appointment of Cassandra Lichnock as the new chief executive officer of the California State Teachers’ Retirement System (CalSTRS). CalSTRS is the world’s largest educator-only pension fund, with a 75% female membership. Lichnock will serve as the fund’s first female CEO, an important milestone demonstrating the Board’s commitment to diversity and inclusion. Her first day as CEO will be July 1, 2021.

Statement Karen Doron

Statement on proxy advisor support for alternate ExxonMobil director slate

WEST SACRAMENTO, Calif. (May 18, 2021) – CalSTRS issued the following statement today following reports issued by proxy advisors Glass Lewis and Institutional Shareholder Services (ISS) recommending shareholders support the alternate director slate for ExxonMobil submitted by investment firm Engine No. 1 and supported by CalSTRS in December:

It’s time for change at ExxonMobil, and change is coming.

News release Vanessa Garcia

CalSTRS announces new low-carbon transition readiness investment in global equity markets
CalSTRS will be one of the largest investors in new BlackRock exchange-traded fund suite

WEST SACRAMENTO, Calif. (April 9, 2021) – The California State Teachers’ Retirement System (CalSTRS) today announced its investment in two new low-carbon transition readiness exchange-traded funds (ETF). The BlackRock U.S. Carbon Transition Readiness ETF and the BlackRock World ex U.S. Carbon Transition Readiness ETF began trading yesterday and are one of the largest ETF launches in history. These ETFs address market risks and opportunities associated with the global transition to a low-carbon economy while also closely tracking the performance of the broad equity market.

News release Vanessa Garcia

CalSTRS addresses corporate sustainability and business continuity after extraordinary year
Seventh annual sustainability report highlights enterprise risk management in first half of 2020

WEST SACRAMENTO, Calif. (March 3, 2021) – The California State Teachers’ Retirement System today released its 2019–20 Sustainability Report. The report follows the Global Reporting Initiative (GRI) Standards, which are recognized as the global best practices for corporate sustainability reporting.

Statement Karen Doron

Statement on ExxonMobil’s loss of $22 billion in 2020

WEST SACRAMENTO, Calif. (February 3, 2021) – ExxonMobil’s reported 2020 loss of $22 billion demonstrates the continued erosion of shareholder value and that incremental changes are not enough to restore investor confidence and position the company for the global energy transition.