Alaska Permanent Fund Corp. board ousts CEO Rodell

The board that oversees Alaska’s multibillion dollar investment portfolio on Thursday removed Angela Rodell as chief executive officer.

KTOO Public Media reported board members voted 5-1 to remove Rodell immediately. The board is holding its quarterly meeting in Anchorage, according to an agenda on its website.

Rodell in October asked if the board was committed to building the corporation’s capacity to manage its investments using its own employees, KTOO reported at the time.

There was a proposal before the board in October that would have cut $900,000 in employee pay. The measure failed, and the board passed the $218 million budget.

“Should we continue to be building this agency, or is it time to put our hands up and go, ‘Maybe it’s time to shrink this. Maybe it’s time to move it over, back to Department of Revenue. Maybe it’s–’ And how do we think about that? So it’s bigger, it’s more philosophical. It’s just trying to understand where we want to go with this organization,” Rodell said in October.

Rodell, who was a commissioner of the state Department of Revenue under then-Gov. Sean Parnell, has led the corporation since 2015. Since then, the investment fund whose earnings support government expenses and the annual checks paid to residents has grown from $51 billion to nearly $81 billion.

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