Corporate governance

Florida State Board targets companies with overburdened board directors

Governance -

Governance -

U.S. companies that have board directors who hold more than three simultaneous directorships have historically performed more poorly than companies with less "busy" directors.
PLSA calls on pension funds to push companies on climate change risks

GOVERNANCE -

GOVERNANCE -

The PLSA recommended that pension funds actively vote at annual general meetings as part of efforts to eliminate business practices that foster climate change risks.
Express Scripts clashes with DiNapoli over cyberrisk disclosure

Governance -

Governance -

The SEC will review a dispute between Express Scripts and New York Comptroller Thomas DiNapoli over his effort to force the company to increase cyberrisk disclosures.
Anne Sheehan to retire from CalSTRS

PENSION FUNDS -

PENSION FUNDS -

Anne Sheehan, director of corporate governance at CalSTRS, will retire March 30.
Duke Energy agrees to disclose business effect of Paris Agreement's climate-change goal

ESG -

ESG -

Duke Energy agreed to disclose in a report this quarter how its business will be impacted by the Paris Agreement's global temperature goal.
Railpen calls for more corporate disclosure from its holding companies

Governance -

Governance -

Railpen wrote to more than 200 of its holding companies requesting enhanced corporate disclosure in line with its new voting and engagement policy.
Citigroup discloses gender and racial pay gaps, plans raises

GOVERNANCE -

GOVERNANCE -

Citigroup Inc. said it would measure, publish and take steps to close the gaps between what it pays men and women in three countries and for U.S. minorities.
BlackRock's Fink: Companies must contribute to society to survive

Governance -

Governance -

BlackRock CEO Laurence D. Fink sent a letter to CEOs telling them their companies also need to be contributing to society if they want to thrive or even survive going forward.
N.Y. State Common, Arjuna Capital target Facebook, Twitter to address harassment, elections

Governance -

Governance -

New York State Common Retirement Fund and Arjuna Capital plan to file shareholder proposals at Facebook and Twitter urging the companies to address several issues.

Governance -

Governance -

Tim Youmans was named engagement director at Hermes Investment Management.

Consultants -

Consultants -

Bob Collie joined the not-for-profit investment research organization the Thinking Ahead Institute as head of research for the Thinking Ahead Group.

Searches and Hires -

Searches and Hires -

Maryland State Retirement & Pension System wants a consultant for a comprehensive review of its governance policies and practices.
Judge dismisses lawsuit questioning Kentucky governor's ability to restructure pension fund board

Courts -

Courts -

A 2016 lawsuit against Gov. Matt Bevin's reorganization of the Kentucky Retirement Systems' board was dismissed by a Franklin Circuit Court judge Monday.
Commentary: Conflicts of interest destroy investment returns

INDUSTRY VOICES -

INDUSTRY VOICES -

Many investing decisions have become more difficult, but the decision to avoid conflicts that erode returns is simple.
CalSTRS, JANA urge Apple to study tech impact on kids

Governance -

Governance -

CalSTRS and activist hedge fund manager JANA Partners are calling on Apple to study the impact of frequent cellphone and tablet use on children.