Keith Bozarth plans to retire next year as executive director of the $80 billion State of Wisconsin Investment Board, Madison, according to a statement from the board Wednesday.
Mr. Bozarth expects to remain in the post until a replacement is hired “and for a short time after to provide a smooth transition for the new executive director,” the statement said.
“Under Keith's direction, SWIB has accomplished a great deal, including increasing its internal management of funds from 21% to 55% and revising its risk management process,” Jim Sentry, chairman of the SWIB trustees, said in the statement.
Mr. Bozarth became executive director of SWIB in 2007.
Trustees hired EFL Associates, an executive recruiting firm, to search for candidates to replace Mr. Bozarth. A time frame for the search wasn't available.
Neither Mr. Bozarth nor Vicki Hearing, the board's information officer, could be reached for confirmation or comment.