Monday, January 18, 2010

Walden Asset Management & Benedictine Sisters Call for Chairman / CEO Split at State Street

Harking back to an idea first proposed by dissident whistleblowers in 2000, Walden Asset Management and the Benedictine Sisters of Mount St. Scholastica are calling for the roles of Chairman and CEO to be split at State Street - duplicating, in substantial part, a shareholder proposal introduced this year by Patrick A. Jorstad.

Both WAM and the Benedictine Sisters also call attention to additional corporate governance concerns, detailed below.

It appears that the Directors and Officers of State Street have garnered unwanted attention from institutionals - in large part over the draconian measures that Ronald E. Logue took at the 2006 AGM.

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