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April 1, 2009 Forum Report:

Corporate Use of TIAA-CREF “Ten Questions” for Shareholder Survey



Forum Report


Corporate Use of TIAA-CREF “Ten Questions” for Shareholder Survey


For those of you interested in the December meeting's Forum projects for either the use of investor surveys or the development of a standard set questions about executive compensation, Amgen is inviting its shareholders to offer comments on the TIAA-CREF “Ten Questions.”  The invitation is presented in the executive compensation section of the company's proxy statement, directing shareholders to a questionnaire on the corporate web site:

   Amgen, Inc., Definitive Proxy Statement, filed March 26, 2009 (110 pages, 894 KB, in PDF format); see bookmark for "Executive Compensation Website - Stockholder Survey," on page 51 of proxy statement (PDF page 42)

   Amgen, Inc., website survey (5 pages, 73 KB, in PDF format)

It should be noted that Amgen's test of these processes is independent of the Forum.

Your observations will be welcomed regarding this variation of the corporate use of questions suggested in December (by a representative of a different company).  Comments will also be appreciated on the questions themselves, or on possible alternative questions such as those presented by RiskMetrics-ISS.


           GL – April 1, 2009


Gary Lutin

Lutin & Company

575 Madison Avenue, 10th Floor

New York, New York 10022

Tel: 212-605-0335






This Forum program is open, free of charge, to anyone concerned with investor interests relating to shareholder advisory voting on executive compensation, referred to by activists as "Say on Pay." As stated in the posted Conditions of Participation, the Forum's purpose is to provide decision-makers with access to information and a free exchange of views on the issues presented in the program's Forum Summary. Each participant is expected to make independent use of information obtained through the Forum, subject to the privacy rights of other participants.  It is a Forum rule that participants will not be identified or quoted without their explicit permission.

The organization of this Forum program was supported by Sibson Consulting to address issues relevant to broad public interests in marketplace practices, rather than investor decisions relating to only a single company. The Forum may therefore invite program support of several companies that can provide both expertise and examples of performance leadership relating to the issues being addressed.

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