FOR IMMEDIATE RELEASE
October 1, 2015Treasurer Cowell Releases Corporate Governance Report and Board Member DisclosureReport describes efforts to improve investment returns by engaging with companies and setting a positive example for board disclosure
RALEIGH, N.C. — State Treasurer Janet Cowell announced today the release of the Department of State Treasurer’s first Corporate Governance Report. This report contains information on how the Department has engaged with companies since mid-2008 to jointly improve their performance and the value of the Department's investments.
“Corporate governance is an especially important task for institutional investors like the Department of State Treasurer," said Treasurer Cowell. "Holding companies accountable for maximizing their value generates investment returns over the long-term.”
Covering the years of 2008-2015, this report reflects four areas of focus for the Department: expressing a commitment to corporate board accountability by engaging with companies and filing shareholder resolutions; maintaining shareholders' rights in litigation when necessary; advancing diversity of perspectives across the financial system; and encouraging companies to transparently disclose important information. The report also includes data and analysis about how the Department has voted on more than 10,000 resolutions per year at companies' annual meetings.
Consistent with the Department’s work advancing diversity on corporate boards, the Department is publishing information on of members of the state’s Investment Advisory Committee, Retirement Systems Board of Trustees, Local Government Commission and other boards. These board members are appointed by the Governor, legislature or Treasurer. Retirees, citizens and the general public can visit this section of NCTreasurer.com
to learn more about the skills, education credentials and demographic backgrounds of these board members.
The Department is unveiling these corporate governance initiatives at the Council of Institutional Investors Fall Conference this week in Boston.
Read the Corporate Governance Report:https://www.nctreasurer.com/corporategovernance
The North Carolina Retirement Systems, the formal name for the pension fund, is the tenth largest public pension fund in the country. It provides retirement benefits and savings for more than 900,000 North Carolinians, including teachers, state employees, firefighters, police officers and other public workers. For more information, visit www.nctreasurer.com