Pension fund to vote against Wal-Mart execs

5/23/2012

NEW YORK -- The California State Teachers' Retirement System, known as CalSTERS, said Tuesday that it will vote its 5.3 million shares against all of Wal-Mart Stores Inc.'s board nominees -- including the company's current and former chief executive officers -- at the retailer's annual meeting next week.

Independent proxy advisory firms ISS and Glass Lewis & Co., separately recommended last week that Wal-Mart shareholders vote against certain board members, including Mr. Duke and Mr. Scott.