His departure follows anger at the increasingly militant attitude exemplified by a new policy of targeting directors whose companies allowed their auditors to provide non-audit services.
The pension fund would use its $177bn (£92bn) financial muscle to oppose such directors’ re-election, despite the fact that even the stringent Sarbanes-Oxley act contains no prohibition against doing so.
California’s State Personnel Board voted by three to two to remove Harrigan as their representative, to be replaced by the less hard-line Ron Alvarado.
His departure ends a reign which saw CALPERS contribute to the departure of Michael Eisner as chairman of Walt Disney and Richard Grasso as head of the New York Stock Exchange, The Financial Times reported. A new president will be chosen in the New Year.
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Dr Richard Willis provides a several thousand-year history lesson of the profession, from origin to modern-day
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season