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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.
From a Merrill Lynch press release (April 24, 2008):
"The Board of Directors regularly reviews its governance practices to ensure it is operating efficiently, effectively, and in the best interests of shareholders," said John Thain, chairman and chief executive officer.
"In discussions with investors, including recent conversations with CtW Investment Group, we have shared the board's growing consensus that annual director elections are becoming a best practice. Today the board agreed to move to this approach next year. Annual director elections will ensure that our investors have a regular opportunity to express their confidence in the performance of the board and management."
Posted by on April 25, 2008 9:42 AM
