CalPERS to press firms on majority vote standards

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US - The California Public Employees' Retirement System has announced plans to ask 58 of the top US firms in its global equity portfolio to adopt the majority vote standard in uncontested elections for corporate directors.

The US$205bn pension fund warns that if the companies fail to act, they could face a shareholder resolution. Under the plurality vote standard, shareowners can oppose candidates by casting "with...

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