Global Conference 2011

A paradigm shift is under way, giving large institutional stockholders significant influence in corporate America. This panel consists of representatives of some large and influential pools of capital discussing their approaches. The days of uninvolved directors, lack of transparency, staggered boards and limited accountability are fading as these stockholders face off directly with managements and boards and insist on playing a more active role in monitoring their investments. A new breed of active minority shareholders has arisen to drive value creation. Some are focusing attention within their own organizations, using their large direct shareholdings in public companies to influence management and board composition, executive compensation policies and matters like environmental and social stewardship. Some are taking the charge to Washington, working to change the regulatory framework and the rules relating to broker voting, proxy access and other aspects of corporate governance. Others are identifying and backing external managers with the experience and mandate to serve as lead stockholders, driving value creation for all stockholders.

Moderator

Clifton Robbins

Founder and CEO, Blue Harbour Group

Speakers

Janet Cowell

Treasurer, State of North Carolina

Joseph Dear

Chief Investment Officer, California Public Employees' Retirement System (CalPERS)

Robert Grady

Chairman, New Jersey State Investment Council

William Royan

Vice President, Relationship Investing, Ontario Teachers' Pension Plan

Anne Sheehan

Director of Corporate Governance, CalSTRS


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