Financial Services Industry
Industry: Email Alert RSS Feed`We're not going away': Institutional investors are roaring at the mouse.(News)
Pensions & Investments, March, 2004 by Burr, Barry B.
Byline: Barry B. Burr Institutional investors in The Walt Disney Co. are still furious, even though Michael D. Eisner lost the chairman's title. CalPERS, the nation's largest pension fund, is one of them. The $167 billion California Public Employees' Retirement System, Sacramento, is "highly dissatisfied'' with the appointment of George J.
Mitchell, the presiding director, to the new position of non-executive chairman, CalPERS spokesman said Brad Pacheco said. He called the change "cosmetic.'' Mr. Pacheco acknowledged CalPERS voted its 9.9 million shares for Mr. Mitchell and six other directors up for re-election to the Disney board. "We gave the board the opportunity to step up and do the right thing for shareholders,'' he said. "But the board didn't...
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