US - Sean Harrigan (pictured), president of the US$177bn California Public Employees Retirement System (CalPERS), is expected to be ousted from his post today after serving just a ten month tenure.
Harrigan this week told the US press that the state Personnel Board would vote today to replace him as its representative on the 13-member CalPERS board.
Investment committee chairman and CalPERS vice president Rob Feckner has been touted by observers as Harrigan’s likely successor.
Since his election to presidency in February, Harrigan has used the position to lead high-profile corporate governance campaigns with a major focus against excessive executive compensation.
CalPERS’ has pushed through a range of reforms in line with its corporate activism efforts, which are said to have angered business leaders.
California governor Arnold Schwarzenegger has been accused of leading the push to have Harrigan replaced due to pressure from big businesses – a charge refuted by a spokesperson for the governor.
At the time of going to press, the vote had not yet been taken.
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