Corporate governance.(Teachers Insurance and Annuity Association - College Retirement Equities Fund revises corporate governance and proxy-voting policy)(chief executive officers recruited from outside more expensive)(Michael G. Oxley opposes bill by Barney Frank on executive compensation)

Pensions & Investments, March, 2007

TIAA-CREF revises its proxy, governance policy NEW YORK - TIAA-CREF issued a revised corporate governance and proxy-voting policy, its first revision since 2003, said John C. Wilcox, senior vice president and head of corporate governance. The policy covers new areas including annual nonbinding vote on executive compensation, which it generally supports.

TIAA-CREF will now generally support proposals seeking majority-vote bylaw amendments, even if a company already has a form of majority-vote policy, Hye-Won Choi, director-corporate governance and senior counsel, said in an interview. Previously, it had generally supported companies that voluntarily adopted some form of majority vote and not additional shareholder proposals on the issue. "It's an evolution of...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.