CalPERS CIO Announces Resignation

April 23, 2008 ( - Russell Read, Chief Investment Officer for the California Public Employees' Retirement System (CalPERS), announced on Wednesday that he intends to step down from his post on June 30, 2008.

A CalPERS press release said Read plans to pursue his long-standing interest in environmental and cleantech investing. George Diehr, Investment Committee Chair for CalPERS said in the release: ” We wish Russell well in the next chapter of his professional career. He has great enthusiasm for environmental and clean technology investments and we look forward to hearing about his future endeavors in sustainability investments as that sector grows in the capital markets.”

In a letter to the CalPERS Board, Read said working for the Board, staff, and members has been the greatest experience in his investment career. He joined CalPERS in June 2006, after serving as Deputy Chief Investment Officer for Duetsche Asset Management and Scudder investments (See CalPERS Selects New Chief Investment Officer ).

The CalPERS Board will meet soon to discuss steps for appointing a new Chief Investment Officer, the announcement said.