Skip to content Skip to navigation
- Home
- >
- Market Initiatives
- >
- Support Market Initiatives
- >
- CalPERS Seeks Majority Vote for Corporate Directors
CalPERS Seeks Majority Vote for Corporate Directors
CalPERS believes that in an uncontested director election, a majority of proxies cast should be required to elect a director. In a contested election, a plurality of proxies cast should be required to elect a director. Currently, a plurality vote system is used in most corporate elections, in which directors can be elected by the vote of a single share unless they are opposed by a dissident candidate. CalPERS plans to support the initiative through the following courses of action:
- Implement majority vote policies at individual companies through company bylaw and charter amendments;
- Advocate for changes to state laws to implement majority vote where feasible; and
- Seek to advocate regulatory and stock exchange support for the majority vote standard.
August 6, 2010
CalPERS Commends Massey Energy's Plans to Improve Its Corporate Governance
May 18, 2010
Oppose Carper - Corker - Bayh Amendments to strike Corporate Governance Reforms (PDF, 207 KB)
March 15, 2010
CalPERS Seeks Majority Vote Standard at Top Publicly Traded Companies