Four of the largest pension funds are turning up the heat on Walt Disney Co. and pressing to elect their own nominees to the media giant’s board at its upcoming annual meeting. But their underlying motive also seems to be to pressure the Securities and Exchange Commission to issue its final proposed rules for proxy access.
Last week, The California Public Employees’ Retirement System, the New York State Common Retirement Fund, the AFSCME Employees Pension Plan, and the Illinois State Board of Investment announced a joint proposal that would give shareholders the right to nominate directors to the board of The Walt Disney Co.
