CalPERS Chief Moves Up Resignation

SACRAMENTO-California Public Employees Retirement Systems (CalPERS) will lose its CEO at the end of this month instead of the end of the year. James Burton says he will now leave on Aug. 23 to assume the title of CEO of the World Gold Council, a London-based gold mining association.

According to CalPERS, Burton held the CEO post for eight years, during which time, CalPERS assets grew from $78 billion to $140 billion. The public pension fund will name an interim CEO for the time being and hopes to have found a permanent successor in the next two months.

Burton’s new post is part of recent action by the World Gold Council’s Executive Committee to reinvent the organization. “This new challenge provides an excellent opportunity for me to use my investment experience and leadership capabilities to help this organization refine and achieve its strategic imperatives,” says Burton. “Gold has excellent prospects for the future, and I am excited by the challenge of educating investors on its attributes.”