CalPERS Revamps Executive Ranks
The California Public Employees’ Retirement System named two administrators to the position of deputy executive officer as part of a management overhaul triggered by investment losses and rising health-care costs.
Having two deputy executive officers will “provide better focus and direction of resources” as CalPERS copes with stock market losses and changes in the health insurance industry, said Fred Buenrostro Jr., CalPERS’ chief executive.
The appointees are Vincent Brown and Loren Suter. They replace Jim Gomez, who retired.