CalPERS Revises Governance Policy, Adopts 12 Years as Threshold for Director Independence on Corporate Boards

The California Public Employees’ Retirement System (CalPERS) Board of Administration today adopted a revised version of their Global Governance Principles (PDF) (Principles), including a new provision that cautions that corporate board directors who serve more than 12 years on the same company board are at risk of compromising their independence.

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