Board changes
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Timken shareholders back CalSTRS' proposal to split companyTimken Co. shareholders Tuesday voted 53% in favor of a CalSTRS' proposal to split the company into separate steel and ball-bearing businesses, according to company proxy voting results.
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New York State Common backs 2 shareholder proposals for Peabody
New York State Common Retirement Fund will support separate shareholder proposals at Peabody Energy backed by the AFL-CIO Reserve Fund and the AFSCME Employees Pension Plan.
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CtW Investment drops chairman/CEO separation proposal at Goldman Sachs
CtW Investment Group withdrew a shareholder proposal calling for the separation of the chairman and CEO positions at Goldman Sachs Group Inc. after the company agreed to bolster the role of its lead director.
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CPPIB, Florida State Board support Agrium board membersCanada Pension Plan Investment Board, Toronto, and Florida State Board of Administration, Tallahassee, have voted their Agrium Inc. shares in support of all the company's 12 directors, refusing to go along with a shake-up of the board by JANA Partners.
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HP chairman, 2 directors step downHewlett-Packard Co. announced Raymond J. Lane stepped down as chairman of its board and John H. Hammergren and G. Kennedy Thompson announced their resignations as directors. The move comes after pension funds led strong shareholder opposition voting at last month's annual meeting.
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ISS backs 2 on JANA's dissident slate for Agrium board
Institutional Shareholder Services recommended shareholders vote in favor of two nominees on a dissident slate put forth by hedge fund manager JANA Partners to the board of directors of Agrium Inc.
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HP shareholders re-elect all directorsHewlett-Packard Co. shareholders voted to elect all 11 nominees for director, although five directors who were the subject of pension fund opposition received a large percentage of the vote against their retention.
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CalPERS won't back 5 HP directorsCalifornia Public Employees’ Retirement System is pressuring Hewlett-Packard Co. to change its board and will vote against the re-election of five directors.
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Florida board, AFSCME pension plan reveal Hewlett-Packard votesFlorida State Board of Administration and the American Federation of State, County and Municipal Employees Pension Plan are seeking changes in Hewlett-Packard Co.'s board and will vote their shares against the election of five directors, adding to pressure from other pension funds.
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Disney shareholders rebuff pension funds' efforts to split chairman/CEO roleWalt Disney Co. investors turned back calls for a future split of the two top jobs held by Chairman and CEO Robert Iger, rejecting the demands of three state pension funds.
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Connecticut, CalPERS join CalSTRS in urging Disney to split chairman, CEO rolesConnecticut state Treasurer Denise Nappier filed a shareholder resolution on behalf of the state's pension funds at The Walt Disney Co. seeking to separate the company's CEO and chairman positions, both currently held by Robert A. Iger.
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Pension funds pressure HP board on governance, compositionCalifornia State Teachers' Retirement System and other pension fund representatives urged Hewlett-Packard Co. to address corporate governance policy and board composition concerns in a conference call with four directors of the company.
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Pension funds file proposal calling for independent chairman at J.P. Morgan ChaseA group of institutional investors representing $818 million in shares filed a shareholder proposal at J.P. Morgan Chase & Co., calling for an independent chairman of the board of the company.
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CalSTRS to oppose Disney pay, CEO's re-election to boardCalSTRS will vote its almost 5.3 million shares against Walt Disney Co.’s executive compensation and the re-election of Robert A. Iger, chairman and CEO, to the board.
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CtW Investment calls for governance, auditor changes at HP
CtW Investment Group called for an overhaul of the Hewlett-Packard board's audit committee and replacement of Ernst & Young as the company's auditor, citing “serious weaknesses” in the company's outside audit function and oversight threatening shareholder value, according to a CtW statement ...
