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California Pension Fund Challenges Facebook Over Board

Published on February 7, 2012
by John Letzing and Joann S. Lublin

A large California pension fund has challenged Facebook Inc. over what it sees as a lack of diversity on the company’s board of directors, just days after the social-networking firm filed papers to go public in a closely watched IPO.

In a letter addressed to Facebook Chief Executive Mark Zuckerberg on Tuesday, California State Teachers’ Retirement System Director of Corporate Governance Anne Sheehan wrote that, “We are disappointed that the Facebook board will not have any woman members.”

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