Anne Stausboll, Chief Executive Officer (CEO) for the California Public Employees' Retirement System (CalPERS), is to retire as the head of the public pension fund on 30 June, 2016.
Stausboll will leave the system after serving more than seven years as its CEO following her appointment in January 2009.
"It has been an honor and privilege to serve CalPERS, our Board and staff, and the public employees who serve California," says Stausboll. "Together we have made CalPERS a stronger organisation, one that is well positioned to provide retirement and health security for future generations. I'm proud of our progress and ready to explore the next chapter of my life."
Stausboll assumed the helm of CalPERS during a volatile time in the organisation's history. CalPERS had lost nearly 30 per cent of its investment assets following the Great Recession and found itself embroiled in an ethics scandal by former officials, including its former CEO.
Under her leadership, CalPERS has strengthened ethics, transparency, and internal controls through governance and operational improvements, and seen its investment assets grow from USD170 billion to more than USD275 billion.
"CalPERS is a better organisation because of Anne," says Rob Feckner, President of the CalPERS Board. "She led us through a difficult period, and we have emerged as a more accountable, transparent, and smarter institution. We will miss her and we wish her the very best in her future endeavors."
In addition to her role as CEO, Stausboll served as CalPERS Chief Investment Operating Officer since 2004 during a time she was twice tapped to be Interim Chief Investment Officer. She also worked in the pension fund's legal office for six years as a staff attorney and Deputy General Counsel.
The CalPERS Board will conduct an immediate search for her replacement.
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