Long-time ICCR Executive Director to Retire
New York, 8 May 2000

The Interfaith Center on Corporate Responsibility today announced the retirement of its long-time executive director Timothy Smith. One of the corporate responsibility movement's most recognized leaders, Mr. Smith was a founding staff member of ICCR, who became ICCR's executive director in 1976.

"Tim has been a tireless leader of ICCR and one of the true visionaries of the socially responsible investing movement," explained Francis G. Coleman, chair of ICCR's Governing Board from the Christian Brothers Investment Services. "He has combined an engaging personality with a pioneering vision of the fiduciary duties of investors and the social and environmental responsibilities of corporations."

"I am extremely proud of the work of ICCR, the impact we have on global economic justice and our faith witness in the marketplace," Mr. Smith declared. "Our movement has grown from a handful of religious investors challenging U.S. investment in apartheid to a worldwide movement of individual and institutional investors leveraging trillions of dollars in investments to protect the environment, end sweatshops, guarantee equal employment, improve healthcare access for the poor and elderly and build a more peaceful world. I feel the time is right for ICCR and me personally to make this move."

ICCR is a coalition of nearly 300 faith-based institutional investors representing over $100 billion in invested capital. Its membership includes major denominations, religious communities, healthcare corporations, pension funds, foundations, publishing companies and dioceses. Each year ICCR members sponsor shareholder resolutions challenging over 100 major corporations on their social and environmental performance. ICCR has a dozen full and part time staff working out of its New York City headquarters in the Interchurch Center building.

A United Methodist layman and graduate of Union Theological Seminary, Mr. Smith joined the ICCR staff in 1973. He guided ICCR through history-making corporate social accountability campaigns against infant formula marketing abuse and bank and corporate partnership with apartheid South Africa to campaigns on today's major social and environmental issues. Mr. Smith, 56, is a member of the Board of Directors of the Domini Social Equity Fund, the Calvert New Africa Fund and Shared Interest. He chairs the Social Advisory Council of the Calvert Social Investment Fund.

"We are sad because we are losing a brother and a tireless leader," observed Cheryl Hammond Hopewell, ICCR Treasurer from the American Friends Service Committee, "but Tim leaves ICCR in a strong position. We have a highly-skilled staff and membership; strong alliances with major pension funds, foundations, mutual funds and portfolio managers; a balanced budget and a growing endowment. We are well-known and respected by top corporate officials, political leaders and the media. And investing according to one's values has become a regular business practice for U.S. faith-based institutions and people of conscience alike. We are deeply grateful to Tim for all he has done."

Mr. Smith will continue with the organization during a leadership transition period anticipated to be completed this fall.