The giant pension fund’s board announced that it had tapped Robert Walton, a 27-year CalPERS veteran as its interim chief executive officer. While Walton keeps watch over the $150-billion fund, board member say they will be interviewing CEO candidates in a process they say may be wrapped up in two months.
Former CEO James Burton announced his departure earlier this summer for a similar post with the World Gold Council.
Walton is currently assigned as assistant executive officer in charge of governmental affairs, planning and research. He began working for CalPERS in 1971. Walton, who has publicly said he is not a candidate for the permanent post, is scheduled to assume his duties on September 1, 2002.
A native of California, he received his bachelor’s degree in business administration with an emphasis on accounting from California State University, Chico, in January 1971. Walton resides in Folsom, California, with his wife, Patti.
Acting GC Also Named
The board also announced the appointment of deputy general counsel Peter Mixon as acting general counsel. Mixon will oversee the CalPERS Legal Office and provide advice to the board and executive staff.
The deputy CEO and general counsel positions will remain unfilled until after the board names a new chief executive, CalPERS said.