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Calpers CEO Buenrostro to retire at end of June
SAN FRANCISCO, May 2 (Reuters) - The outgoing chief executive of Calpers said on Friday he would step down from the helm of the biggest U.S. pension fund at the end of its current fiscal year, the end of June, to enter the private sector.
Fred Buenrostro earlier this week announced he would retire as CEO of Calpers, the $244 billion California Public Employees' Retirement System, but he did not say when.
His announcement followed the resignation last week of Russell Read, the fund's chief investment officer, who is leaving at the end of June to start his own environmental investment firm.
Analysts say the announcements were not related and that a shake-out is not taking place at the fund, which oversees retirement and health benefits for more than 1.5 million members and their families.
Buenrostro has overseen the management of Calpers for the past six years. Previously he served in various state positions. He is leaving the fund with a 32-year career in state government.
During his tenure as Calpers CEO, the retirement system nearly doubled the market value of assets.
(Editing by Richard Chang)
