CalPERS Revises Governance Policy, Adopts 12 Years As Threshold For Director Independence On Corporate Boards

The California Public Employees' Retirement System (CalPERS) Board of Administration today adopted a revised version of their Global Governance Principles (PDF) (Principles), including a new provision that cautions that corporate board directors who serve more than 12 years on the same company board are at risk of compromising their independence.