Minnesota State Board of Investment, St. Paul, hired Korn/Ferry International to search for an executive director to replace Howard Bicker, who is retiring.
Mr. Bicker will remain with the board until his replacement is chosen, according to recently released minutes of the board's June 5 meeting.
Mr. Bicker was out of the office and could not be reached for comment, according to a spokeswoman at the board.
Michael Kennedy, managing director and senior client partner at Korn/Ferry, is handling the search for the state board, which oversees $65.2 billion. Mr. Kennedy said no finalists have been selected for the appointment and that no deadline for a selection has been set.
“The search is underway and is going well,” Mr. Kennedy said. He would not comment further.