WSIB Executive Director elected to Board of Directors for Council of Institutional Investors (March 22, 2007) Olympia - Joe Dear, executive director of the Washington State Investment Board (WSIB), was elected this week to the Board of Directors for the Council of Institutional Investors (CII). Dear was elected to the board at the council's annual spring conference in Washington, D.C. He is one of only two new members elected to the 15-member board. The Council of Institutional Investors is a not-for-profit association of 140 pension funds, including most of the largest pension funds in the U.S., with assets totaling more than $3 trillion. Founded in 1985, the Council's purpose is to address investment issues important to its members. The council works to educate members and the public about corporate governance, and to advocate for strong governance standards on issues ranging from executive compensation to the election of corporate directors. "With the increasing complexity of today's global financial markets, CII is an important resource in helping us increase shareholder value and carry out our fiduciary obligations," Dear said. "I believe CII is one of the strongest and most effective voices for more accountable, transparent governance practices on behalf of the millions of shareholders its members represent." Dear, WSIB executive director since November, 2002, will serve a one-year term on the council's board of directors.