New York City comptrollers office next week is expected to send out RFPs for a proxy solicitation firm to assist in a major shareholder campaign. Kenneth Sylvester, director-policy, said three of the five New York City pension funds agreed to jointly carry out a "vote no campaign targeting Louisiana Pacific Corp., Great Lakes Chemical, and Cooper Tire & Rubber Co. The three pension funds are the New York City Employees Retirement System, the Police Department Pension Fund, and the Teachers Retirement System. The directors of the three companies have been targeted because they rejected corporate governance changes, despite resolutions that received a majority of shareholder votes. Even though the resolutions were non-binding, pension fund officials believe the company directors and executives should have at least agreed to discuss the resolutions, which they refused to do.
New York City comptroller's office next week is expected to send out...
Sponsored Content
Partner Content