The California State Teachers' Retirement System withheld votes for eight Morgan Stanley board members, including Chairman John Mack, because the company has underperformed both the market and peers.... CalSTRS, the second-largest U.S. public pension fund, is the first shareholder to publicly withhold a vote for Mack after the firm reported its first-ever quarterly loss last year amid writedowns related to subprime mortgages. Morgan Stanley has urged shareholders to support Mack, 63, saying he "moved quickly and aggressively to address the issues.''
The company's annual meeting is scheduled for April 8th. Stay tuned
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