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What are the odds that the U.S. economy will head into a recession in 2008?March 28, 2008 CalPERS Won’t Support Lily CEOThe California Public Employees' Retirement System (CalPERS) said yesterday that it plans to withhold re-election votes for three directors of Eli Lilly and Co.
Among those directors is John Lechleiter, who is slated
to become the company's CEO next week, according to Reuters. CalPERS said that Lechleiter,
Alfred Gilman, and Karen Horn are accountable for a weak stock price and bad
corporate governance policies, according to Reuters. "It was on their watch that
Eli Lilly experienced severe stock underperformance, poor corporate governance
practices, and was unresponsive to shareowners," said Russell Read, CalPERS' chief
investment officer , said in a statement. Tags: calpers (69) eli lilly (5) john lechleiter (2) alfred gilman (2) karen horn (2) corporate governance (200) strategy & leadership (144) director news (100) nominating & evaluations (6)
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