New TIAA-CREF Policy Brief Calls on Shareholders to Take an Active Role in Corporate Governance

by New York City and Press, February 2, 2010.

NEW YORK–(BUSINESS WIRE)–Long-term investors with a focus on overseeing their investments will play a vital role in improving governing practices of companies in which they invest, which can in turn help to avoid future financial crises, according to a new policy brief released today by TIAA-CREF.

The policy brief calls on shareholders to take a more active role in corporate governance, and outlines their role in safeguarding portfolio companies and financial markets from future breakdowns.

“It is imperative that large long-term investors such as retirement systems and mutual funds – to which millions of investors entrust their savings – encourage portfolio companies to adopt governing practices that promote sustainable growth and lead to long-term value creation,” said Roger W. Ferguson, Jr., Chief Executive Officer of TIAA-CREF.

TIAA-CREF’s policy brief highlights lessons from the corporate and financial crises of the past decade, and recommends measures that will enable long-term institutional shareholders to uphold their responsibilities as shareholders…(continue reading)

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