David J. Adams, executive director of the $16.1 billion Indiana Public Employees' Retirement Fund, Indianapolis, will leave effective June 1, the fund announced today. Mr. Adams submitted his resignation to Gov. Mitch Daniels, who nominated him to the post in March 2005.
Mr. Adams said in an interview that he made a commitment to the governor to lead PERF for two years to improve customer service and the reputation of the fund, and "I believe I've delivered on my promise to engineer a turnaround at PERF." He said he is undecided on his future plans.
Mr. Daniels plans to nominate a new executive director and have the person in place by the time Mr. Adams departs, according to the statement and Mr. Adams. Any nomination requires the approval of the fund's board of trustees.
Jane Jankowski, spokeswoman for Mr. Daniels, said she believes the state will not use an executive recruiting firm to help find candidates.