CalPERS is supporting a shareowner proposal at JP Morgan’s annual shareowners meeting today saying that an independent chair would “be able to exercise stronger oversight of management.” CalPERS strongly believes that the recent issues at JP Morgan validate the need for market reforms. The pension fund is also supporting shareholder proposals for greater disclosure on political contributions. CalPERS owns more than 12.4 million shares of JP Morgan.
Read more about CalPERS proxy votes at JP Morgan.
harlan e. petersen Posted On : Tuesday, Aug 28, 2012 (41 weeks, 6 days, 2 hours, 42 minutes)
I totally agree with CALPERS REGARDING THE ESTABLISHMENT OF AN INDEPENDENT CEO with JP Morgan Chase Inc. Judging from their recent investment losses of approx. $2 billion and the previous bailout money they do need more input and accountability at the top.
CalPERS is working hard to ensure the retirement and health security of our members, provide help to our employers, and manage our investments to meet our long-term liabilities. We hope this information provides education, insight, and clarity.
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