SAN FRANCISCO: CalPERS, the biggest US pension fund, said it will oppose the re-election of directors at eight companies, including Apple Computer Inc and Lockheed Martin Corp, as it stepped up a campaign to change how corporate America is run.
The latest warning shots by the US$167bil California Public Employees' Retirement System are seen as symbolically important in framing the debate on corporate governance standards but unlikely to spur real change on their own.
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