Board Diversity

Board Diversity

Overview
News release Michelle Mussuto

CalSTRS and Banc of California Collaboration Creates a More Diversified Board
Appointments of two women to previously all male board are a result of collaborative engagement

WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System today praised Banc of California’s announcement that it has added Mary Allis Curran and Dr. Bonnie Guiton Hill to its board of directors. CalSTRS worked together with investment partners Legion Partners Asset Management, LLC and Banc of California to identify the best board candidates.

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 Board Updates Corporate Governance Principles on Corporate Board Diversity
Update expands the definition of corporate board diversity to include sexual orientation and gender identification, sought by State Treasurer John Chiang

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.

News release Ricardo Duran Charlotte Laurent-Ottomane

CalSTRS and The Thirty Percent Coalition Expand Campaign For More Women on Corporate Boards
The Thirty Percent Coalition is reaching out to Russell 1000 companies lacking women board directors.

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.

News release Ricardo Duran

CalSTRS Gets Rapid Response to Board Diversity Effort
131 California companies with no women on their boards of directors receive offers of help

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.

News release Ricardo Duran

CalSTRS Votes Against Combined CEO-Chairman Post and Compensation Plan at Disney’s Annual Meeting
Disney remains the happiest place on Earth–for Robert Iger

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.

News release Ricardo Duran

CalSTRS Statement on the Appointment of Ralph Whitworth To Hewlett-Packard’s Board of Directors
CalSTRS applauds corporate governance partner named to technology company board

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.

Statement Ricardo Duran

CalSTRS Statement Regarding News Corp. Annual Meeting

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.

News release

CalSTRS Continues to Advance Diversity on Corporate Boards
Engagement with companies yields success on shareholder resolutions to attract a wider talent pool

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.

News release

CalSTRS, CalPERS, Announce Diverse Director DataSource (3D) – A Resource To Identify Corporate Director Candidates
CalSTRS, CalPERS, Announce Diverse Director DataSource (3D) - A Resource To Identify Corporate Director Candidates

 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.

News release

CalSTRS Backs Dissident Candidates for Texas Industries Board

 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.