CalPERS CEO Burton Goes for the "Gold"

August 12, 2002 ( - The California Public Employees' Retirement System (CalPERS) has officially announced that chief executive James Burton will step down later in August to transition into the top job at the World Gold Council.

Burton’s plans were first revealed last week in a report about the personnel upheaval going on at the much-watched $150 billion California state pension fund.

Burton served as the CEO for nearly eight years. During the period, CalPERS assets grew from $78 billion to $140 billion.

CalPERS said it intends to name an interim chief executive and is on a path to bring forward a new permanent CEO within eight weeks.

Burton is slated to depart August 23 for the top World Gold Council slot. The London-based association, , represents the world’s leading gold mining companies, according to CalPERS.