Calpers, the largest public pension fund in the US, agitates for better governance - aiming at "Zombie" directors

Calpers, with some $255bn in its care, is the largest public pension fund in the US. And it has been throwing its weight around.

When the Chairman of Hewlett-Packard stepped down this month, making way for the activist investor Ralph Whitworth, the California Public Employees Retirement System was a strong presence in backroom discussions at the technology company.

Now, ahead of the corporate annual meeting season, Calpers has 52 zombie directors in its sights, and is considering its options at another set of 52 companies that have yet to improve pay arrangements to the pension funds satisfaction ... READ MORE

Released by the Financial Times - 9 April 2013