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Large pension fund fiduciaries fire back at share-buyback policies
trueThe chief financial officers of two large states and two large cities on Wednesday issued an open letter in their role as pension fiduciaries criticizing the practice of share-buybacks by corporations and questioning whether companies “are adequately reinvesting for sustainable returns over the ...
The dividends of diversity
trueCompanies, and the investment managers that invest in them, are coming under pressure to add diversity to their top ranks.
Shareholders reject political lobbying proposal at Aetna
trueAetna Inc. shareholders Friday rejected a New York State Common Retirement Fund proposal calling for the company to disclose spending on political lobbying, said Mark T. Bertolini, Aetna chairman and CEO, at the company's annual meeting, broadcast via webcast.
Pension funds take different sides on political lobbying proposal at Aetna
trueAetna Inc. shareholders face voting Friday on a New York State Common Retirement Fund proposal calling for the company to disclose spending on political lobbying, and pension funds are lined up on different sides of the issue.
DuPont's director slate wins heavily contested proxy showdown
trueE.I. du Pont de Nemours & Co. on Wednesday prevailed in shareholder voting, winning a proxy contest showdown against activist investor Trian Fund Management and pitting CalPERS and CalSTRS and other pension funds on opposite sides of a corporate governance dispute.
Pension funds line up against Chipotle pay package
trueTwo big pension funds have lined up against Chipotle Mexican Grill Inc.'s executive pay package for Steve Ells, chairman of the company's board and co-CEO; Montgomery F. Moran, co-CEO; and two other top executives.
CalSTRS votes with Trian in DuPont proxy fight
trueCalSTRS has voted its 3.6 million shares in E.I. du Pont de Nemours & Co. in support of alternatives money manager Trian Fund Management's four board candidates.
CalPERS backs DuPont slate as Trian proxy fight showdown looms
trueThe California Public Employees' Retirement System backed E.I. du Pont de Nemours & Co. in its proxy fight with activist investor Trian Fund Management, which the $305.3 billion pension fund criticized for having a “short-term focus.”
CalPERS supports proxy access at McDonald's, Kohl's
trueCalPERS is supporting a shareholder proposal for proxy access at McDonald's Corp., spokesman Joe DeAnda said Wednesday in an e-mail.
Philadelphia Board of Pensions seeks proxy consultant
truePhiladelphia Board of Pensions and Retirement is searching for a proxy consultant for the $4.5 billion pension fund.
CalSTRS to oppose Coca-Cola's compensation committee members, executive compensation
trueCalSTRS said it will oppose the appointment of four of Coca-Cola Co.'s 15-member board of directors, all members of its compensation committee, and will vote against CEO Muhtar Kent's $25.2 million compensation.
Canadian pension funds line up against Barrick Gold executive compensation
trueThe C$238.8 billion ($194.9 billion) Canada Pension Plan Investment Board, C$154.4 billion Ontario Teachers' Pension Plan and C$114 billion British Columbia Investment Management Corp. said they will vote against Barrick Gold Corp.'s non-binding say-on-pay vote for its executive compensation.
Canadian government considering lifting public share limits for federal pension funds
trueThe Canadian government will hold public consultations with the country’s federal pension funds to consider eliminating the current 30% limit for holding voting shares of an individual company.
Investor groups say SEC should require companies to disclose political spending
trueFive state treasurers, including North Carolina Treasurer Janet Cowell, sole trustee of the $88.8 billion North Carolina Retirement Systems, Raleigh, are urging the SEC to require corporate political disclosures.
2 companies expand board diversity policies following N.Y. State Common proposals
trueThe New York State Common Retirement Fund, Albany, reached agreements with Monster Beverage Corp. and Standard Pacific Corp. on revisions of policies to expand diversity in choosing members of the corporate boards, Thomas DiNapoli, the state comptroller and sole trustee of the $181.7 billion ...