Pension fund heavyweights, the California Public Employees’ Retirement System (CalPERS) and the New York City Pension Funds, are urging shareholders of We Energies’ parent company to support giving shareholders access to the nominating process for the Milwaukee-based public utility company’s board. “We believe providing access to a company’s proxy to give share owners the ability to nominate directors to the board is one of the most important rights for owners of a company,” the two pension funds said in a Thursday filing with the U.S. Securities and Exchange Commission. “Without effective proxy access, the director election process simply offers a ratification of management’s slate of nominees.”
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