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Calpers: Audit, Non-Audit

Calpers announced that it will withhold votes for director nominees of at least seven companies.

> > The current round of no-confidence announcements names potential directors at IBM, MetLife, and Chubb. Many of the announcements from Calpers stem from a policy decision made halfway through the proxy season of last year, when Calpers resolved to oppose audit committee members who authorized their company auditor to perform non-audit services. In most cases, Calpers also plans to vote against the ratification of the auditor.

Source: CFO


Published:2004-04-23
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