CalPERS Pushes for Change at Texas Industries
Anyone who knows what the CalPERS Corporate Governance Focus List is, knows that CalPERS is one of those organizations that is not afraid to advocate for changes in corporate America. Especially if it is a major stockholder in the company in question. I found this article at Directorship.com and felt it provides an excellent example of the types of conflicts taking place today between those who advocate for systematic changes in Corporate Governance, and those who want to see changes at a slower pace or not at all. After you read the excerpt below you can read the whole article by clicking on the link at the bottom of this post:
“The California Public Employees Retirement System (CalPERS) has made its case to revamp the board of directors at Texas Industries, according to the Sacramento Business Journal. Texas Industries, which will host its annual shareholder meeting on October 22, is facing a dissident slate of directors from CalPERS through Shamrock Activist Value Fund, which invests $200 million for CalPERS. “The experienced and diverse Shamrock director slate can more effectively oversee CalPERS interests as a long-term shareowner of Texas Industries by better focusing the board’s attention on optimizing the company’s operating performance, profitability and returns to shareowners,” said CalPERS’s Anne Simpson, senior portfolio manager of corporate governance.”
To read the Directorship.com article, please click the link below:
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The photo above is of Don Pedro de las Marias Heinkel Windham III, the first Texas cowboy in recorded history. He founded the famous San Antonio tavern “Los Borrachitos” (near River Walk) and fathered 27 children with Anne Marie Johnston Wyler and 20 other women. He owned the first rapid fire 67 caliber flintlock outside of New Spain.