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A.J. Kess Quoted in Bloomberg on Calpers’ Proposed Directorship Policy
11.13.15
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Corporate Partner A.J. Kess was quoted in Bloomberg in connection with a policy proposed by the California Public Employees’ Retirement System (Calpers), which urges companies to routinely discuss the independence and replacement of older directors in order to create board positions for younger, more diverse directors. A.J. explained that, in the majority of cases, directors retire upon reaching their companies’ age limits. However, he noted it is important that companies retain the ability to make “thoughtful and tough judgments” concerning continued directorship, as a one-size-fits-all approach may force out the most talented directors with the greatest amount of institutional knowledge.
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