US - The board of the US$207bn California Public Employees' Retirement System (CalPERS) has voted unanimously in favour of a bill requiring that unopposed board director candidates should have a majority vote from shareholders before reappointment.
If enacted the majority-vote rule under the bill, S.B. 1207, by senator Richard Alarcon, would take effect on 1 January 2007. Under a proposed amendment to the bill, an incumbent director who fails...
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