NY state pension fund pushes for corporate board diversity

MarketsAssociated Press

The New York official in charge of the state's $209 billion public pension fund says it will take steps to ensure women are included on the boards of companies in the fund's portfolio.

State Comptroller Thomas DiNapoli (dee-NAP'-oh-lee) announced Wednesday that the New York State Common Retirement fund is "putting all-male boardrooms on notice" to diversify.

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The Democrat says the fund will use its power as a shareholder to vote against board directors up for re-election at companies with no women on their boards.

DiNapoli also said Bristol-Meyers Squibb, Leucadia National, Packaging Corp. of America and PulteGroup have agreed to include gender and racial diversity when considering board candidates.

The New York fund is the nation's third largest public pension fund. DiNapoli is the fund's sole trustee.