Following speculation, Fred Buenrostro, the CEO of the California Public Employees Retirement System, decided to announce that he will indeed step down from the top spot at the world's largest pension fund in order to quiet reports about his resignation.
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In a statement Buenrostro
said:
I have reached a decision to retire from public service. Media speculation about reasons for my departure are unwarranted and incorrect. I had previously chosen not to publicly discuss my conversations with the Board to give them an opportunity to pick the timing of an announcement. But recent press reports compel me and the Board President to speak on this topic today.
Press reports have attributed the
resignation plans of Buenrostro and CalPERS chief investment officer Russell Read to an internal debate over the fund's investments in infrastructure projects. Some board members are reputedly in favor of a new policy that would require union employees to work on the projects. -
George White
See CalPERS press releaseSee previous Dealscape post on Buenrostro
