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The CtW Investment Group works with pension funds sponsored by unions affiliated with Change to Win. Our affiliates' six million members participate in public and Taft-Hartley pension funds with approximately $1.5 trillion in assets. The CtW Investment Group blog chronicles the latest developments in corporate governance and shareholder activism, with a specific focus on CtW Investment Group initiatives to increase long-term shareholder value through active ownership.

Leadership Changes at CalPERS, CalSTRS

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 by Anna Mumford on April 24, 2008 9:59 AM