Johara Farhadieh was named executive director of the $18.3 billion Illinois State Board of Investment, Chicago, according to a news release issued Tuesday.
Ms. Farhadieh replaces William R. Atwood, who resigned June 30, a spokesman said.
Ms. Farhadieh will remain chief investment officer of the board, the release said. She was named CIO in June 2017, replacing Mr. Atwood. Prior to that, Ms. Farhadieh was deputy executive director.
Reached by email, Mr. Atwood said, "My 15 years at ISBI were terrific, and in which I take a great deal of pride — both in our accomplishments and in the relationships I built … Going forward, I wish my friends at ISBI nothing but the best."
Mr. Atwood said he would take a leadership role at "an exciting and critical public policy initiative." He said he could not disclose the name of the initiative as it has not yet been announced.
The Illinois State Board of Investment oversees the investments of the Illinois State Employees' Retirement System, Illinois General Assembly Retirement System and Illinois Judges' Retirement System, as well as the State of Illinois Deferred Compensation Plan.