Calpers Pushes Boards to Clear Room for the Young and Ethnic

  • Pension says members' independence compromised after 10 years
  • `We've got board stagnation,' says official pushing change

California’s big public pension fund has a message for corporate board members like Lee Raymond, the 77-year-old lead director at JPMorgan Chase & Co.: It’s time to retire.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.