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Riviera Beach retirement system resolves lawsuit with Aaron's Inc.
trueRiviera Beach (Fla.) General Employees' Retirement System preliminarily resolved a lawsuit it filed against Aaron's Inc. and its directors accusing the company of illegally restructuring its board in favor of management to deflect a proxy contest and possible takeover.
CalPERS, NYC Retirement Systems oppose Duke Energy directors in coal-ash spill aftermath
trueCalPERS and the New York City Retirement Systems are calling on shareholders to oppose the re-election of four independent directors to Duke Energy Corp.'s board, accusing them of having “failed to fulfill their obligations of risk oversight as members of a committee overseeing health, safety and ...
3 withdraw shareholder-access resolution at Disney
trueCalSTRS, Connecticut Retirement Plans & Trust Funds and Legal & General Investment Management withdrew their proposal at Walt Disney Co. calling for shareholder access to corporate proxy material to nominate directors, according to a webcast of the company's annual meeting Tuesday.
Cohen & Steers to separate chairman, CEO roles
trueCohen & Steers Inc. plans to separate the chairman and CEO roles, effective Jan. 1.
Institutional investors lose board election, executive pay votes at 21st Century Fox
trueTwenty-First Century Fox Inc., shareholders voted with corporate management on all proxy proposals, including electing all 12 directors and ratifying CEO and other top executive compensation as well as defeating a shareholder proposal calling for an independent chairman.
Institutional investors call for slew of changes at 21st Century Fox
trueCalSTRS plans to vote against the election of all 12 directors, including K. Rupert Murdoch, James R. Murdoch and Lachlan K. Murdoch, to the board at Twenty-First Century Fox Inc.
Towers Watson: Corporate director pay rises 3% in 2012
trueTotal pay for outside or non-executive directors at 469 of the largest U.S. companies rose 3% to $226,994, based on the median levels of companies that filed their 2012 fiscal year proxy statements by June 30 this year, according to a study released Tuesday by Towers Watson.
PNC appoints BlueMountain Capital CEO to board of directors
truePNC Financial Services Group appointed Andrew Feldstein to its board of directors on Thursday, according to Marcey Zwiebel, a spokeswoman for PNC.
CalPERS pushes SEC to act to improve investor protection, market regulation
trueCalPERS urged the SEC to strengthen investor protection, accountability, disclosure and market regulation by addressing key priorities that would promote long-term value creation.
Loyalty and accountability
trueThe mechanism for electing and replacing directors on corporate boards — the shareholder vote — isn't working as it should at many companies.
CII pushes NYSE, Nasdaq to remove zombie directors
trueThe Council of Institutional Investors called on NYSE Euronext and Nasdaq OMX to force companies to remove so-called zombie directors, or those who fail to receive a majority of votes in uncontested elections but remain in their seats, according a CII statement Friday.
Pension fund opposition to Wal-Mart proposals fails to sway shareholders
trueDespite opposition from large pension funds, Wal-Mart Stores Inc. shareholders voted in the majority to back management recommendations on all proposals.
Pension funds to vote against Wal-Mart director nominees
trueCalifornia State Teachers' Retirement System, West Sacramento, will vote against all 14 of the director nominees for Wal-Mart Stores Inc., leading a list of other pension funds opposed to at least some members of the company's boards.
NYC pension funds to oppose 9 Wal-Mart director candidates
trueNew York City Retirement Systems will vote against nine of 14 director nominees for Wal-Mart Stores Inc. at the company's shareholder meeting Friday.
Pension fund proposals lose at Exxon Mobil shareholder meeting
trueExxon Mobil Corp. shareholders defeated all shareholder proposals, including separate proposals sponsored by the New York State Common Retirement Fund, the New York City Retirement Systems, the United Brotherhood of Carpenters Pension Fund, according to results provided by the company from ...