OTHER NEWS - March 12, 1993
From Times Staff and Wire Reports
New Chairman Sought for Advanced Micro Devices: California’s big state pension fund is seeking to unseat Jerry Sanders as chairman of Sunnyvale-based Advanced Micro Devices Inc., a pension fund spokesman said. The $70-billion California Public Employees Retirement System, known as CalPERS, has filed a shareholder resolution seeking an independent chairman, CalPERS general counsel Richard Koppes said. CalPERS, however, has no objection to Sanders staying on as chief executive of the big chip making concern. “We think there should be more accountability on the board,” Koppes said. The resolution is to be voted on by shareholders at the company’s annual meeting May 18.
