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NYC pension funds join effort to replace two HP directors
March 8, 2013 / 5:35 PM / 5 years ago

NYC pension funds join effort to replace two HP directors

March 8 (Reuters) - New York City’s public pension funds on Friday joined in an effort to oust two Hewlett-Packard Co directors because of their support for the company’s 2011 acquisition of British software maker Autonomy.

City Comptroller John C. Liu said the New York City Pension Funds will vote against directors John H. Hammergren and G. Kennedy Thompson “because of their failure to protect investors from costly, misguided acquisitions.” Two key proxy advisory firms have also recommended voting against those directors.

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