NYSE's Decision To Ignore 110 Candidate Nominations Raises A Question Of Their Good Faith, CalPERS Says

Sean Harrigan, President of the California Public Employees' Retirement System (CalPERS) Board of Administration, today issued the following statement regarding the New York Stock Exchange's decision not to consider any of the 110 candidates for directors it sought from the investor public.

"This is either an April Fools' Day joke, or it is a sad indictment on the New York Stock Exchange's ability to manage the world's largest exchange. With all of the resources at its disposal, the Board of Directors of the Exchange should be able to solve this straightforward problem of too many candidates. It once again calls into question whether there is genuine good faith on the part of the NYSE in addressing the legitimate issues that have been raised by institutional investors and other consumers."