Patricia Lipton will retire as executive director of the State of Wisconsin Investment Board, Madison. Her retirement is effective Jan. 2. "With the appointment of six new trustees to the board, this becomes an opportune time for me to step aside," she said in her resignation letter to the board. "This will allow the new board to move forward with its own priorities." She has been executive director since 1989. The investment board has $65 billion in assets.
The board is considering conducting a nationwide search for a replacement, but details haven't been completed, said Vicki Hearing, public information officer.