Lilly has been slammed by the USA's largest pension fund that it needs to improve its "dismal stock performance and poor governance practices".
"The California Public Employees Retirement System (Calpers), which has assets totalling more than $230 billion has criticised Lilly and ten other firms from other sectors, saying that their "long-term performance...is at least 20% behind their peers, and they have resisted appeals to change corporate practices that make their boards unresponsive to shareholder interests."
It notes that Lilly "allow shareowners no opportunity to amend bylaws by employing restrictions used by only 4% of Standard & Poor's 500 companies.
Source: PharmaTimes
Oh dear! Poor CEO Sid Taurel must be suffering, right?
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