The TIAA and CREF boards have a higher percentage of nonmanagement members than typical U.S. corporations. Although trustees are not selected as formal representatives of a specific constituency or an institutional category, every effort is made to include individuals who, in addition to their professional qualifications, are from diverse backgrounds. This brings different perspectives to board deliberations.
TIAA and CREF trustees come from many regions of the country. Nearly half are from academia. They include senior college and university administrators, deans, and faculty members. Other trustees are distinguished in the fields of business and investing.
In addition, 36 percent of TIAA and CREF trustees are women, and 24 percent are minorities. Historically, the TIAA and CREF boards have had more women and minority trustees than virtually any public corporation. The first woman was appointed in 1940, the first African American in 1957.