Sean Harrigan, president of the California Public Employees Retirement System, whose activist tenure included calling for the ouster of such corporate heads as Michael Eisner at Walt Disney Co. and Safeway chairman Steven Burd, was ousted from his post at the $177 billion fund.
The California Personnel Board voted 3 to 2 to replace Harrigan with Ron Alvarado, who will serve a one-year term beginning Jan. 1.
Harrigan, an unrelenting proponent of corporate governance, had railed against excess executive compensation, but his campaigns had reportedly angered many in the private business sector, as well as California Governor Arnold Schwarzenegger.
Harrigan had served as board president at CalPERS since early 2003. While there, his activist campaigns had come under fire and he was accused of furthering his own political agenda rather than the 1.4 million state employees who currently receive benefits from the pension system.
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