Anne Sheehan, director of corporate governance at the $152.2 billion California State Teachers' Retirement System, West Sacramento, was elected chairwoman of the Council of Institutional Investors, according to a release on the CII website.
Ms. Sheehan replaces Joseph Dear, chief investment officer of the $237.3 billion California Public Employees' Retirement System, Sacramento, who served as chairman of the 15-member board since 2008. Council rules allow for a maximum of five one-year terms on the board, CalPERS spokesman Wayne Davis said.
The election came during the Council of Institutional Investors spring conference in Washington, Monday and Tuesday.
Also elected were the following CII board officers:
- Corporate pension fund constituency co-chairwoman: Lydia Beebe, corporate secretary and chief governance officer, Chevron;
- Labor pension fund constituency co-chairman: Patrick O'Neill, executive vice president, United Food and Commercial Workers International Union;
- Public pension fund constituency co-chairman: Jay Chaudhuri, general counsel and senior policy adviser to North Carolina State Treasurer Janet Cowell;
- Treasurer: Michael McCauley, senior officer of investment programs and governance, $156.8 billion Florida State Board of Administration, Tallahassee; and
- Secretary: Randi Weingarten, president, American Federation of Teachers.
Elected as board members were:
- Carol Nolan Drake, chief external affairs officer, $73.2 billion Ohio Public Employees Retirement System, Columbus;
- Jane Hamblen, chief legal counsel, $83 billion State of Wisconsin Investment Board, Madison;
- David Kushner, CIO, Los Angeles County Employees' Retirement Association;
- Gianna McCarthy, director of corporate governance, $140.3 billion New York State Common Retirement Fund, Albany;
- Meredith Miller, corporate governance officer, $55 billion UAW Retiree Medical Benefits Trust, Ann Arbor, Mich.;
- Susan Permut, senior vice president and deputy general counsel, EMC Corp.;
- Anne Simpson, senior portfolio manager, CalPERS;
- Gregory Smith, general counsel and COO, $39.2 billion Colorado Public Employees' Retirement Association, Denver; and
- Carin Zelenko, director of the capital strategies department, International Brotherhood of Teamsters.
Calls and e-mails to Amy Borrus, the council's deputy director, were not immediately returned.
Copy editor Colette Jordan contributed to this story.