Q&A with TIAA-CREF's John Wilcox

As the SEC weighs the question of shareholder access, TIAA-CREF's senior VP says rules on corporate governance should be left up to each state

Securities & Exchange Commission Chairman Christopher Cox faces perhaps the single most important decision of his tenure—whether to give shareholder groups access to companies' ballots so they can nominate candidates for boards of directors. Many chief executive officers and directors say that would cripple their decision-making process. The American Federation of State, County & Municipal Employees (AFSCME) sued American International Group (AIG) for the right to nominate directors. AIG led it into court. It was appealed, and the court ordered the SEC to clarify the matter.

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