April 26, 2012 (PLANSPONSOR.com) - Bruce Dow, the chief executive of the Screen Actors Guild (SAG) pension and health plans, resigned.
Dow, who had been on a medical leave of absence since January, was expected to step down because of the controversy over a lack of financial control of the organization that controls more than $2 billion in assets on behalf of the SAG’s 125,000-plus members, reports The Los Angeles Times.
The board of trustees for the Screen Actors Guild-Producers Pension and Health Plans said in a statement that it appointed Chris Dowdell, the current chief operating officer, as interim CEO, the news report stated.
U.S. Labor Department officials have been investigating reports that another former senior pension plans executive allegedly embezzled millions of dollars by receiving kickbacks from several companies that did business with the funds. Last month, a former executive sued the pension plan alleging he was fired for reporting illegal conduct by other plan executives (see “Former SAG Pension Executive Sues Due to Termination”).