WASHINGTON, Feb. 12, 2014 (GLOBE NEWSWIRE) -- As the advocate for the profession of directorship, the National Association of Corporate Directors (NACD) is gathering major investors on February 25 in Washington, D.C., for the NACD Investor Summit. Representatives from CalPERS, CalSTRS, Capital Group, Fidelity, State Street Global Advisors, TIAA-CREF, T. Rowe Price, and Vanguard, as well as the Council of Institutional Investors, will identify and prioritize the top governance issues that investors believe corporate directors should focus on in 2014.
The Investor Summit builds on NACD's ongoing commitment to help directors navigate the complexity of today's environment while keeping a watchful eye on the horizon for emerging issues. "This forum supports NACD's commitment to educating directors about investors' expectations and will provide an opportunity for many investors to communicate the themes that will drive their engagement with companies in the coming year," said Glenn Booraem, head of corporate governance at Vanguard.
The need for the summit is underscored by the dramatic increase in shareholder activity over the past decade. Since investors are exerting their influence more than ever, corporate directors must be prepared to not only engage in an ongoing dialogue with shareholders, but must also be ready to take appropriate action. By creating a forum for institutional investors to share their critical governance issues, NACD's Investor Summit will facilitate productive communications between corporate directors and investors.
"As a director, I count on NACD's unique ability to bring institutional investors and directors together on a regular basis to establish leading boardroom practices, bolster investor confidence, and support long-term corporate sustainability," said Laban Jackson, chair of the audit committee of JPMorgan Chase & Co.
NACD has been convening committee chairs from Fortune 500 companies with key shareholder representatives, regulators, and other stakeholders for years. The most recent meeting of the NACD Nominating and Governance Committee Chair Advisory Council brought together directors and institutional and activist investors to discuss key considerations for boards in the new activist environment. For a summary of the meeting proceedings, visit www.NACDonline.org/NomGovSoP.
Late last year, NACD met with a panel of institutional investors collectively representing more than $10 trillion in assets under management to identify key issues for boards and compensation committees to consider as they prepare their companies' compensation and disclosure analyses (CD&A). The resulting recommendations, Preparing the 2014 CD&A: Priority Considerations for Boards, are available at www.NACDonline.org/CD&A.
Based on the investor priorities identified during the upcoming summit, NACD will develop a series of actionable recommendations that its more than 14,000 member directors can implement to address investor priorities.
"Companies and investors have a shared interest in fostering long-term, sustainable business success. NACD provides a wonderful forum for dialogue--which CalPERS finds immensely valuable," said Anne Simpson, CalPERS senior portfolio manager and director for corporate governance.
A media call will be held March 11 at 11 a.m. EST to distill key findings from NACD's Investor Summit. For more information or to attend the media call, contact Henry Stoever at hstoever@NACDonline.org or 202-572-2102.
About NACD
The National Association of Corporate Directors (NACD) is the recognized authority focused on advancing exemplary board leadership and establishing leading boardroom practices. Informed by more than 35 years of experience, NACD delivers insights and resources that more than 14,000 corporate director members rely upon to make sound strategic decisions and confidently confront complex business challenges. NACD provides world-class director education programs, national peer-exchange forums, and proprietary research to promote director professionalism, ultimately enhancing the economic sustainability of the enterprise and bolstering stakeholder confidence. Fostering collaboration among directors, investors, and governance stakeholders, NACD is shaping the future of board leadership. To learn more about NACD, visit www.NACDonline.org. To become an NACD member, contact Kelly Dodd at kkdodd@NACDonline.org or 202-380-1891.