Sean Harrigan, CalPERS board president since February 2003, may be voted out of office tomorrow at a meeting of the California State Personnel Board, which will hold its annual elections.
The meeting will decide "who is going to represent the state personnel on the CalPERS board," said Rob Feckner, investment committee chairman for the $177.8 billion California Public Employees' Retirement System, Sacramento. Mr. Feckner said one name he has heard being "tossed to the front" as Mr. Harrigan's potential successor is Ron Alvarado, current personnel board vice president.
Mr. Harrigan, whose term expires in February, has drawn criticism from big business regarding the pension fund's stances on corporate governance reform, Mr. Feckner said. "Sean has been the outspoken one, and this is probably going to come back on him," he said. "It's a travesty that Sean would be replaced on the board. He is a stalwart for reform and a good leader."
A spokeswoman for California Gov. Arnold Schwarzenegger, who did not want to be identified, said speculation that Mr. Schwarzenegger's administration is lobbying to have him removed is a "conspiracy theory."
"The board would rather not make comments pending the outcome of the vote," said Sherry Hicks, legislative director of the State Personnel Board.
Mr. Harrigan did not return phone calls requesting comment. Mr. Alvarado, State Personnel Board President William Elkins, and members Anne Sheehan and Maeley Tom were not available for comment.