Washington (March 26, 2004) -- The California Public Employees' Retirement System, one of the largest pension funds in the country, has nominated former Securities and Exchange Commission chair Arthur Levitt to the board of the New York Stock Exchange.
Under the NYSE’s recent reform measures to its corporate governance procedures, the exchange said it would consider board member recommendations from both NYSE members and stock investors.
Along with Levitt, the pension giant also nominated Ralph V. Whitworth, a principal of Relational Investors LLC, a $2.3 billion investment fund.
In a statement, Sean Harrigan, president of CalPERS' Board of Administration, said of Levitt and Whitworth, "We believe they have the vision, passion and integrity to help restore the trust and confidence of America's investing public."
In addition to being the longest-serving chairman of the SEC, Levitt also headed the American Stock Exchange.
-- WebCPA staff
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