Connecticut Retirement Plans and Trust Funds, Walden Asset Management and Friends Ivory & Sime are leading a group of about 20 investors supporting three shareholder resolutions challenging corporate governance practices of EMC Corp., Hopkinton, Mass.
The $19 billion Connecticut plans, Hartford, is the lead filer of a resolution urging the company to increase efforts to include women and minorities among its directors, according to a statement by Denise L. Nappier, state treasurer. EMCs seven directors are white males.
Friends Ivory & Sime is the lead filer of a resolution seeking a majority of outside directors. Three EMC directors may be considered independent, said Stefanie Haug, socially responsive investment officer at Walden, a co-sponsor of the resolution.
Walden is the primary filer of a resolution asking the company to affirm its commitment to face-to-face annual meetings, instead of only broadcasting them on the Internet, a move management supported.
The resolutions are pending rulings for inclusion by the SEC. In aggregate, the group has 2.7 million shares of EMC stock.
EMC officials didnt return calls requesting comment. The firms annual meeting date hasnt been set yet.