CalPERS CEO To Step Down At End of Fiscal Year


Anne Stausboll, who has been at the helm of CalPERS as CEO for 7 years, will step down on June 30.

[Read the CalPERS press release here.]

There’s no word yet on who will replace Stausboll, who was the first woman to head the pension fund in its 84 years of existence.

More from Reuters:

Stausboll, a trained lawyer, took Calpers’ top job during a tough time as investment returns had cratered nearly 30 percent during the financial crisis and the fund was battered by a corruption scandal.

Her predecessor, Fred Buenrostro, pleaded guilty in 2014 to accepting kickbacks in return for steering investment dollars to certain private-equity firms.

“She led us through a difficult period, and we have emerged as a more accountable, transparent, and smarter institution,” Rob Feckner, president of the pension fund’s board, said in a statement.


On Stausboll’s watch, Calpers’ assets swelled to $276 billion from $170 billion and she pushed the pension fund to flex its muscle in demanding more diversity in board rooms and working to engage more companies on climate change.

Also in 2014, the fund said it would exit its hedge fund investments, calling them too costly and complicated only a few years after becoming one of the first pensions to push into alternative investments like hedge funds.

Before she was at CalPERS, Stausboll served as chief deputy to the California State Treasurer.


Photo by  rocor via Flickr CC License

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