US - The Change to Win (CtW) coalition has failed in its bid to block the reappointment of Morgan Stanley directors at the company's AGM.
John J. Mack, chairman and CEO, Morgan Stanley, said: "We appreciate the strong support that shareholders have shown for the board today through the re-election of our directors by substantial margins.
"Our entire board is deeply engaged and intensely focused on building value for our shareholders through this unprecedented market environment."
The CtW campaign was boosted by the support of the $165bn California State Teachers Retirement System (CalSTRS), but failed to prevent the re-election by considerable margins of the entire board of Morgan Stanley.
The motion to reappoint Mack as chairman and CEO received approximately 94.5% of the vote.
CtW could not be contacted for comment.
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