This memo to the Steering Committee of the "TIAA-CREF Divestment Campaign" contains a letter from the Assistant Vice President and Public Relations Officer of TIAA-CREF communicating that the TIAA-CREF Board of Trustees adopted a policy in July 1986 that calls on companies to withdraw from South Africa. The Board's statement and a Press Release announcing it on July 23 also is enclosed. The press release says that TIAA-CREF Chairman urges companies to withdraw "for economic reasons" in that "the growing world outrage against apartheid may be translated into additional sanctions against South Africa and boycotts against U.S. corporations doing business there,"...
This memo to the Steering Committee of the "TIAA-CREF Divestment Campaign" contains a letter from the Assistant Vice President and Public Relations Officer of TIAA-CREF communicating that the TIAA-CREF Board of Trustees adopted a policy in July 1986 that calls on companies to withdraw from South Africa. The Board's statement and a Press Release announcing it on July 23 also is enclosed. The press release says that TIAA-CREF Chairman urges companies to withdraw "for economic reasons" in that "the growing world outrage against apartheid may be translated into additional sanctions against South Africa and boycotts against U.S. corporations doing business there," and that "the financial risks of portfolio companies remaining in South Africa increasingly outweigh the potential rewards."
