Yesterday both the California Public Employees' Retirement System and the California State Teachers’ Retirement System announced executive shake-ups.
At CalPERS, the Chief Investment Officer Russell Read announced he was leaving, to “pursue his long-standing interest in investing in companies that are developing environmentally friendly technologies,” Read will be replaced for the interim by Anne Stausboll, CalPERS Chief Operating Investment Officer.
CalSTRS yesterday announced that it had appointed a new head of corporate governance.
Michael McCauley comes from the Florida State Board of Administration and currently co-chairs CII’s International Corporate Governance Committee as well as serving as a member of the Public Company Accounting Oversight Board’s Standing Advisory Group.
McCauley will help CalSTRS expand their engagement with “international corporate governance issues and examining the relationship between executive compensation and corporate performance.”
Posted byon April 24, 2008 9:59 AM