CalPERS Suspends Search for New CIO Pension system officials say they won’t restart the search until early July, and they didn’t offer a timetable as to when a new person will take the job.
The California Public Employees’ Retirement System (CalPERS) has suspended its search for a new chief investment officer to replace Ben Meng, who resigned in August following an ethics complaint. CalPERS officials say they do not expect a new search to resume until early July.
The pension system’s CEO, Marcie Frost, made the disclosures in a press release, putting a temporary end to the search that began after Meng resigned.
Controversy Still Follows CalPERS’ CIO Resignation
More than a half-year after Ben Meng resigned, a lawsuit and pending pension system policy decisions are bringing his departure back into the limelight.
Seven months after California Public Employees’ Retirement System (CalPERS) Chief Investment Officer Ben Meng resigned following conflict-of-interest charges, the fallout continues over his abrupt departure.
At the same time, the largest pension organization in the United States, with $440 billion in assets, still does not have a new CIO, despite a search that has gone on for least six months.
Now, a former CalPERS board member and investment officer has filed a lawsuit demanding that the pension system turn over transcripts, recordings, and notes from a closed-door board meeting held on August 17 allegedly to discuss the Meng affair. Meng resigned on August 5.
ISM® Introduces New Professional Committees
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TEMPE, Ariz., Feb. 19, 2021 /PRNewswire/ Institute for Supply Management
® announced two new Committees to enhance its roster of groups committed to assisting ISM
® in its mission to advance the supply management profession. The additions include its inaugural Data and Analytics Committee, as well as a Solutions Provider Council, to provide insight into future product offerings and content. We re excited to bring these two groups of respective thought leaders together, said ISM Chief Product Officer Susan Marty. Both are examples of how we continue to focus on the future needs of supply chain management practitioners globally.