Management Turnover as Change Agent

Friday, May 2, 2008

Recommended Reading - California Leaving: Calpers Loses Top Talent

Maurna Desmond wrote a story in Forbes on the recent spate of top talent exits at California's Public Employment Retirement System (CALPERS), the nation's largest public pension fund.  
Fred Buenrostro, chief executive officer of the California Public Employees' Retirement System for more than six years, said late Monday he would leave to pursue opportunities in the private sector. The news comes just days after Chief Investment Officer Russell Read announced his resignation in order to pursue opportunities in green investments.
The timing sounds fishy, but Calpers' board president, Rob Feckner, says it isn't. "It's best to go out when you're on top. It's called marketability."
What could all this mean for Calpers and where is Buenrostro going?  Check out the story.

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