NU Online News Service, June 6, 3:55 p.m. – The Teachers Insurance and Annuity Association-College Retirement Equities Fund, New York, has announced its strong support for corporate governance reforms recommended recently by a New York Stock Exchange panel.
The panel, the Corporate Accountability and Listing Standards Committee, says the New York Stock Exchange board should require that independent corporate board members be more independent, and that members of audit, nominating and compensation committees be drawn solely from the ranks of independent directors.
The panel also says NYSE member companies should give shareholders a chance to vote on all stock-based compensation programs that might dilute shareholder ownership.