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Calpers

All articles tagged with #calpers

business1 year ago

Tesla Defends Musk's Multi-Billion Dollar Pay Package Amid Criticism

Tesla and Elon Musk are actively opposing efforts by major investors, including CalPERS, to vote against Musk's $46 billion compensation package at the upcoming shareholders meeting. Despite achieving the milestones set in the 2018 compensation plan, a Delaware judge struck down the deal, calling it unfair to investors. Tesla is now campaigning to secure support, with Musk and the board engaging in extensive promotion and outreach efforts.

via Gizmodo|
#business#calpers#compensation
business1 year ago

"Elon Musk Faces Mixed Reactions Over Controversial $46 Billion Pay Package"

Tesla and Elon Musk are actively countering opposition from major investors and advisory firms against Musk's $46 billion compensation package ahead of the company's annual shareholders meeting. CalPERS and other investors argue the package is excessive and not aligned with company performance, while Tesla and Musk defend it as a reward for extraordinary growth.

via Quartz|
#business#calpers#compensation
business1 year ago

"Tesla Faces Scrutiny Over Musk's $56 Billion Pay Package Amid Legal and Shareholder Challenges"

Calpers, the largest state public pension fund in the US, plans to vote against Tesla's proposed $56 billion pay package for CEO Elon Musk, citing it as disproportionate to the company's performance. This adds to the opposition from other investors and advisers. Musk criticized the decision, arguing that all contractual milestones were met. The pay package will be up for a vote at Tesla's annual shareholders meeting on June 13.

via Yahoo Finance|
#business#calpers#compensation
business1 year ago

Musk's $55B Tesla Pay Faces Growing Opposition

Tesla is facing increasing opposition from investors, including the California Public Employees' Retirement System (CalPERS), against reinstating Elon Musk's $55 billion pay package. CalPERS, one of Tesla's largest investors, plans to vote against the proposal, citing concerns over the compensation's alignment with company performance. Other investment funds and advisory firms have also criticized the plan as excessive. Tesla is actively promoting the proposal ahead of its annual meeting on June 13, where shareholders will vote on several issues, including Musk's pay package.

via Business Insider|
#business#calpers#compensation
business1 year ago

Elon Musk Rallies Tesla Shareholders with Factory Tour Incentive

Tesla CEO Elon Musk criticized the California Public Employees’ Retirement System (CalPERS) for opposing his $56 billion pay package despite their significant gains from Tesla stock under his leadership. CalPERS, which saw its Tesla investment grow from $40 million to roughly $500 million, is among several groups voting against Musk's compensation. The issue is a major topic for the upcoming Tesla Shareholder Meeting, with various stakeholders divided on the matter.

via TESLARATI|
#business#calpers#compensation
business1 year ago

"Disney Board Battle: Pension Fund CalPERS Backs Nelson Peltz in Shareholder Showdown"

CalPERS, a major California pension fund, has voted to support activist investors Nelson Peltz and Jay Rasulo in their battle to join Disney's board of directors, challenging CEO Bob Iger and the current board. The fund, which manages over $465 billion in assets and owns 6.6 million Disney shares, believes the company will benefit from new perspectives. Peltz and Rasulo have been critical of Disney's performance, particularly in its streaming operations, and their election will be decided at Disney's upcoming virtual shareholders meeting on April 3.

via Variety|
#activist-investors#board-battle#business
business1 year ago

"Disney's Boardroom Battle: CalPERS and Nelson Peltz Gain Support Against Bob Iger"

The California Public Employees Retirement System (CalPERS) has announced its support for activist investor Nelson Peltz and former CFO Jay Rasulo to gain seats on Disney's board, dealing a blow to Bob Iger and the current board's efforts. The pension fund believes that fresh eyes on the board will benefit Disney, and its established voting guidelines prioritize independent corporate boards and increased transparency. With the shareholder meeting approaching on April 3, the vote has become too close for Disney's comfort, as individual and small shareholders make up 40% of Disney's owners.

via Deadline|
#board-battle#business#calpers
business1 year ago

"CalPERS and NYC Retirement Systems Support Peltz and Rasulo in Disney Board Battle"

The California Public Employees Retirement System (CalPERS) has voted to elect activist investor Nelson Peltz and Jay Rasulo to the board of Walt Disney Company, joining other advisory firms in backing the candidates. The vote comes ahead of Disney’s annual shareholders meeting, where a showdown is set to take place over two board seats. Peltz, founder of Trian Partners, and Disney CEO Bob Iger have been at the center of a tense proxy fight, with Peltz arguing that Disney’s business is in decline under Iger, while Iger has been trying to convince shareholders not to vote for the investment firm’s candidates.

via Hollywood Reporter|
#boardroom-battle#business#calpers
finance1 year ago

"CalPERS Boosts Private Market Investments to Over $30 Billion"

Calpers, the largest US public pension fund, plans to invest over $30 billion in private markets such as private equity, private credit, and real assets over the next three years, aiming to boost returns and diversify its portfolio. This move comes as Calpers seeks to reduce its reliance on public markets and take advantage of opportunities in private markets.

via Financial Times|
#calpers#dollar30bn#finance
cybersecurity2 years ago

Massive Data Breach Exposes Personal Information of Over 700K Retired California Workers

The personal information of about 769,000 retired CalPERS members was exposed in a third-party data breach that was reported earlier this month. CalSTRS also said it was impacted by the breach. CalPERS said the breach did not impact its own information systems, myCalPERS or active members. The breach could have also impacted inactive members who soon become eligible for benefits, CalPERS said. PBI said it reported the breach to federal law enforcement. CalPERS said that on Thursday it will begin sending letters to impacted members about the breach and will offer them free Experian credit monitoring for two years.

via KCRA Sacramento|
#calpers#calstrs#cybersecurity
cybersecurity2 years ago

Massive Cyber Attack Exposes Personal Data of Over 700,000 California Pensioners.

The California Public Employees' Retirement System (Calpers) has revealed that almost 770,000 of its members have been affected by a cyber attack. The data breach, which occurred in April, exposed personal information such as names, addresses, and Social Security numbers. Calpers has said that it is not aware of any misuse of the information, but has advised members to monitor their accounts and credit reports for any suspicious activity.

via Financial Times|
#calpers#cyber-attack#cybersecurity
finance2 years ago

CalPERS Increases Venture Capital Investments Despite Market Turmoil

Despite the recent turmoil in the startup market and lackluster performance of its VC portfolio, California's public pension fund, CalPERS, is looking to increase its venture capital exposure in the coming months. The pension fund's managing investment director for private equity, Anton Orlich, is signaling CalPERS is eager to step into the domestic funding vacuum and become a bigger limited partner following a brutal year in the tech private markets. CalPERS' private equity investment strategy had been "inconsistent," and the firm missed out on an extended bull market and vintage years that would deliver "strong investment returns."

via CNBC|
#calpers#finance#investment