New TIAA-CREF Policy Brief Calls on
Shareholders to Take an Active Role in Corporate
Responsible Investing and Corporate Governance: Lessons Learned from the Crises of the Past Decade
February 02, 2010 09:03 AM Eastern Time
NEW YORK--(EON: Enhanced Online News)--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
“Potential steps that are being discussed in Congress and by the Administration that afford shareholders added rights
are necessary, but just the first step,” said Hye-Won Choi, Senior Vice President and Head of Corporate
Governance for TIAA-CREF. “These new rules will bring about meaningful reforms only if shareholders use them
responsibly to hold companies accountable for increasing long-term value.”
As one of the world’s largest private retirement systems, TIAA-CREF has been promoting sound governing
practices at companies in which it invests for decades. The organization maintains a professional Corporate
Governance staff that manages shareholder advocacy programs, engagement initiatives and votes proxies. TIAA-
CREF’s program is overseen by the Committees on Corporate Governance and Social Responsibility, a joint
committee of the Trustees of TIAA and CREF.
TIAA-CREF’s policy brief is available at http://www.tiaa-
cref.org/about/press/about_us/releases/pdf/ricg_lessons_learned_past_decade.pdf. The policy brief should be read
in conjunction with TIAA-CREF’sPolicy Statement on Corporate Governance which is available at http://www.tiaa-
TIAA-CREF (www.tiaa-cref.org) is a national financial services organization with more than $402 billion in
combined assets under management as of September 30, 2009 and the leading provider of retirement services in the
academic, research, medical and cultural fields.
TIAA-CREF Individual & Institutional Services, LLC, and Teachers Personal Investors Services, Inc., members
FINRA, distribute securities products.
© 2010 Teachers Insurance and Annuity Association - College Retirement Equities Fund (TIAA-CREF), New
York, NY 10017
Chad Peterson, 704-988-6811
Abby Aylman Cohen, 212-916-4381