Trustees Vote to Remove Angela Rodell from Alaska Permanent Fund Corporation
Posted on 12/10/2021
The Alaska Permanent Permanent Fund Corporation board of trustees voted 5 to 1 on to remove Chief Executive Officer Angela M. Rodell from the position, effective immediately. William Moran was the sole vote against removing Rodell. APFC Chief Financial Officer Valerie Mertz was appointed to serve as the acting CEO. Mertz has served as the CFO of APFC since 2012.
Angela Rodell was hired as the head of APFC in October 2015 taking the spot of the late Michael Burns. Rodell had previously been a member of APFC’s board of trustees and a former commissioner of the Alaska Department of Revenue. The sovereign wealth fund grew from US$ 51 billion to US$ 81 billion under her watch. Rodell is also the Chair of IFSWF (International Forum of Sovereign Wealth Funds).
In September 2021, Rodell raised some questions if the board was committed to APFC’s independence. There was substantial debate surrounding increasing positions, incentives, and compensation. Two trustees voted against the corporation’s budget proposal in September 2021.
