Cassandra Lichnock was named CalSTRS’ new CEO, effective July 1.
The first woman to serve as the pension fund’s CEO in its 108-year history, Ms. Lichnock will replace current CEO Jack Ehnes, who is retiring June 30, according to a news release Wednesday.
Ms. Lichnock is currently CalSTRS’ chief operating officer, having served in that position since March 2013.
She originally joined the $299.8 billion California State Teachers’ Retirement System in August 2008 as human resources executive officer.
A CalSTRS spokeswoman said Ms. Lichnock will be recruiting for a replacement in her position as COO.
In March 2020, Mr. Ehnes originally announced his intention to retire in September 2020, but he delayed his retirement to continue leading the plan through the COVID-19 pandemic. He joined CalSTRS in 2002.
Mr. Ehnes said in an April interview with Pensions & Investments he is most proud of the fact that, despite the challenges over the years, “we are here, we are strong, and we are delivering the benefits as promised. You always have to come back to the mission and that is No. 1.”
