The California State Teachers’ Retirement System has a gripe about the makeup of Facebook’s board of directors: It is too small and too male. In fact, there are no women on the board. “We believe that investors and the company would benefit from a larger, more diverse board,” CalSTRS corporate governance director Anne Sheehan wrote to Facebook founder and CEO Mark Zuckerberg. CalSTRS, the second largest pension fund in the U.S., is an institutional investor that carries some weight in corporate America.
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Huge Pension Fund Grouses Over Facebook's Unbalanced Board
Posted by: Erika Morphy February 9, 2012 11:06 AMThe California State Teachers’ Retirement System has a gripe about the makeup of Facebook’s board of directors: It is too small and too male. In fact, there are no women on the board. “We believe that investors and the company would benefit from a larger, more diverse board,” CalSTRS corporate governance director Anne Sheehan wrote to Facebook founder and CEO Mark Zuckerberg. CalSTRS, the second largest pension fund in the U.S., is an institutional investor that carries some weight in corporate America.