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Reform Focus List Companies



The Focus List Program is an annual process that identifies companies in the domestic internal equity portfolio that exhibit both poor economic performance and poor corporate governance. CalPERS focuses on reforming a company's governance practices with an emphasis on accountability, transparency, independence, and discipline in an attempt to improve shareowner wealth. CalPERS may utilize the submission of shareowner proposals as a tool to reform poor governance practices.

Historically, companies identified to the Focus List Company Studies have demonstrated the ability to produce excess returns to CalPERS assets.

Current Focus List Companies

Click on the company name to obtain the Press Release with the initial performance and governance issues information which ultimately led to their identification to the Focus List.

2008 2007 2006
Cheesecake Factory Inc.
(PDF, 111 KB)
Corinthian Colleges, Inc.
(PDF, 97 KB)

Brocade Communications Systems
(PDF, 27 KB)

Hilb Rogal & Hobbs Company
(PDF, 109 KB)
Dollar Tree Stores, Inc.
(PDF, 109 KB)
Cardinal Health, Inc.
(PDF, 27 KB)
Invacare Corporation
(PDF, 108 KB)
Eli Lilly & Co.
(PDF, 108 KB)
Clear Channel Communications, Inc.
(PDF, 27 KB)
La-Z-Boy
(PDF, 109 KB)
EMC, Corp.
(PDF, 105 KB)
Mellon Financial
(PDF, 27 KB)
Standard Pacific Corporation
(PDF, 108 KB)
International Paper, Co.
(PDF, 107 KB)
OfficeMax, Inc.
(PDF, 27 KB)
Kellwood, Co.
(PDF, 107 KB)
Sovereign Bancorp, Inc.
(PDF, 27 KB)
Marsh & McLennan, Inc.
(PDF, 107 KB)
Sanmina-SCI, Corp.
(PDF, 107 KB)
Sara Lee, Corp.
(PDF, 107 KB)
Tenet Healthcare, Corp.
(PDF, 107 KB)
Tribune Co.
(PDF, 109 KB)
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