Joseph Dear, CalPERS chief investment officer, will face Gregory Smith, general counsel and COO of the $39.7 billion Colorado Public Employees’ Retirement Association, Denver, in a runoff election for board chairman of the Council of Institutional Investors, confirmed CII Deputy Director Amy Borrus.
Public fund members of the council will decide between the two candidates on April 25.
Mr. Dear, CIO of the $234.7 billion California Public Employees’ Retirement System, Sacramento, currently is council board chairman. Mr. Smith is on the council board, according to the CII website.
The council has elected three co-chairs: Patrick O’Neill, executive vice president of the United Food and Commercial Workers International Union; Anne Sheehan, director of corporate governance at the $150.1 billion California State Teachers’ Retirement System; and Lydia Beebe, corporate secretary and chief governance officer of Chevron Corp.
Mr. O’Neill will serve as the member representing labor, Ms. Sheehan represents public funds and Ms. Beebe represents corporate funds.