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While we believe more must be done to build value for shareholders, we are encouraged by the steps taken to date and stand ready to help this reconstituted Board move the Company in the right direction," said Anne Sheehan, CalSTRS Director of Corporate Governance.
CalSTRS is the largest educator-only pension fund in the world with more than 879,000 members and approximately $185.
The new, flexible system deploys technology to improve business processes while allowing CalSTRS to continually adapt and grow in support of their members.
Peter DiLullo, LCOR's president and chief executive officer, added, "LCOR has enjoyed a longstanding relationship with CalSTRS in an existing multifamily partnership, and we are looking forward to furthering our business together in this new venture.
CalSTRS now makes its individual proxy votes publicly available online through a partnership with ProxyDemocracy.
Style Research Enterprise will supply CalSTRS with a broad range of independent, holdings-based Style and Risk analysis across CalSTRS' existing and future equity manager partners.
The combination of Neospin s flexible and scalable solution coupled with CGI s proven project methodology and expert team will deliver efficiencies as well as benefits to CalSTRS for years to come.
CalSTRS has a long history of promoting responsible compensation policies that link pay to performance and align shareholder and management interests," said Anne Sheehan, CalSTRS director of corporate governance.
For the equity portion, CalSTRS has agreed to initially contribute up to $150 million and First Industrial has agreed to initially contribute up to $17 million, representing a 90% and 10% equity interest, respectively.
CalSTRS estimates its Homestore losses at more than $9 million on more than 431,000 shares from May 4, 2000, to Dec.
CalSTRS attributes the poor governance structure and compensation plans to an entrenched and insular board that lacks independence from the CEO.