Sound principles of corporate governance are critical to obtaining and retaining the trust of investors -- and to TIAA-CREF's mission of establishing and maintaining our position as a leader in corporate governance. TIAA-CREF has had a long history of championing reforms in the legislative arena as well as in corporate boardrooms across the country. We believe that good governance stands as a key indicator of corporate performance and future strength at both our own organization as well as for the companies in which we invest.
In keeping with the mission of our organization, TIAA-CREF's trustees and management are dedicated to protecting the long-term interest of our participants and other stakeholders by closely monitoring the governance practices in our portfolio companies. TIAA-CREF's views are founded on the conviction that good corporate governance should maintain the appropriate balance between the rights of shareholders, as owners of the company, and the needs of the board and management to direct and manage the corporation's affairs. It is a delicate balance that all companies must continually strive for to achieve long-term success in today's highly competitive economy.
With this new corporate governance section of the TIAA-CREF Web site, our goal is to provide you with information regarding TIAA-CREF's own corporate governance structures -- how we govern ourselves -- as well as to serve as a resource on the many corporate governance actions and initiatives we've taken relating to practices at our portfolio companies. We believe that communications between our own boards, management, and the constituents we serve is essential to ensuring TIAA-CREF's long-term strength and leadership position in financial services.
This site reflects TIAA-CREF longstanding commitment to good corporate governance practices. We are proud of the leadership role our organization has served in this area and of the many ways in which we have been able to effect change. We work for better governance on behalf of the long-term interests of the people we serve in the academic, medical and cultural fields -- people whose own life's work helps to advance the greater good.
We hope that our Corporate Governance site helps to illuminate how we work to achieve that balance at our own company. Just as important, we hope it helps to promote good governance practices throughout the corporate world.