The Council of Institutional Investors will examine its own corporate governance following pressure from officials at the $149 billion California Public Employees’ Retirement System, Sacramento. A CalPERS document claims, among other things, that the CII’s executive committee violates the organization’s one-fund, one-vote rule, and the committee has "no clear authority, responsibility or function”; and measures of accountability for Executive Director Sarah Teslik are "unknown or unclear.”
The council’s executive committee agreed to name a special committee to review the issues and make recommendations for the council’s Sept. 23-24 meeting.
