Cynthia L. Richson joined the $52 billion Ohio Public Employees Retirement System, Columbus, as its first corporate governance officer. Ms. Richson had been director of corporate governance for the State of Wisconsin Investment Board, Madison.
SWIB hasn't decided how she will be replaced. "The board will review the structure of the corporate governance position" later this month, a spokeswoman said.
In her new job, part of Ms. Richson's strategy will be to help Ohio PERS "integrate corporate governance into its investment strategy and decision-making process to enhance long-term financial returns," according to an Ohio PERS spokesman.
Her hiring "will enable OPERS to better manage risk by including corporate governance as part of its investment criteria," Neil Toth, director of investments, said in a statement. "A strong corporate governance foundation leads to greater long-term shareholder value."
Hiring Ms. Richson is "an effort to be more focused and more activist as a shareholder," added the Ohio system spokesman.
She will report to Thomas Sherman, government relations officer. Her salary range is about $140,000 to $160,000.
Hudepohl & Associates, Worthington, Ohio, assisted in the recruiting for the Ohio position.
