UK's Pension Protection Fund Names New Chief

June 16, 2006 ( - Partha Dasgupta will suceed Myra Kinghorn as the chief executive officer of Britain's Pension Protection Fund (PPF). reports that Dasgupta has been the investment and finance chief of the PPF and was named CEO after an “open competition” for the appointment. Dasgupta will earn roughly £500,000 for the three-year contract, including a base salary in the region of £150,000 per year plus a performance-related bonus of up to 10%.

A PPF spokesperson told that, while Kinghorn’s focus and expertise were on getting the organization set up and running, Dasgupta will focus on three key themes going forward: innovation, communication, and delivery. The PPF is little more than a year old, having officially opened for business in April 2005 (See Britain’s Answer to PBGC Opens for Business ).

Until a replacement is found, Dasgupta will continue in his role as investment and finance chief, in addition to his new role as CEO. He will assume his post on June 22.