According to the Associated Press, the California Public Employees’ Retirement System has announced that it will withhold its votes for Disney CEO Michael Eisner’s re-election at next week’s annual shareholder meeting. Sean Harrigan, president of the CalPERS board of administration said “We have lost complete confidence in Mr. Eisner’s strategic vision and leadership in creating shareholder value in the company”. The powerful state retirement fund is the “29th single largest shareholder of Disney, with 9.9 million shares”, and the largest public pension fund in the country. The announcement came shortly after an announcement by Glass Lewis, “an independent company that advises Wall Street and institutions on how to cast their ballots in shareholder votes”, announced that they were advising shareholders vote against reelecting Eisner and directors George Mitchell and Gary Wilson. On February 11th, Glass Lewis’ larger competitor, Independent Shareholder Services, also urged a no vote.