John Johnson, chief investment officer of the $6.5 billion Wyoming Retirement System, Cheyenne, has been dismissed from his position Monday, confirmed Thomas Williams, executive director.
Mr. Johnson pleaded guilty March 18 to charges by the Securities and Exchange Commission of insider trading in 2008 that involved the acquisition of Foundry Networks by Brocade Communications.
He was placed on administrative review leave from the retirement system on March 27.
Mr. Williams will take over CIO duties temporarily. In a telephone interview, Mr. Williams said the CIO has always needed approval from the executive director for investment decisions, and that he will “remain responsible for the CIO decision-making in the near term.” A search for a replacement will likely begin in a month or two, he added.