The trustees did not immediately indicate a reason for their decision, which came after a record-breaking year for the fund. At least two state lawmakers said they were stunned at the action.
Angela Rodell , CEO of the Alaska Permanent Fund Corp., testifies in front of the House Finance Committee on Thursday, June 24, 2021 at the Alaska State Capitol in Juneau.
In six years as executive director, Rodell grew the fund at a record-breaking pace, seeing its assets expand from $51 billion to more than $83 billion. Chairman Craig Richards asked for a motion to remove Rodell immediately, state Revenue Commissioner Lucinda Mahoney seconded the proposal, and trustees adjourned the meeting immediately after voting.“I’m absolutely stunned. The Permanent Fund is performing at a record pace, and the executive director is fired? What the hell is going on?” said Rep. Bryce Edgmon, I-Dillingham and a member of the House Finance Committee.
“The Permanent Fund is not going to comment on personnel matters. And that’s the only comment that I can give on this issue. ... That’s all we’re going to say on this one,” Richards said in a brief phone call Thursday evening. Independent advisers had praised Rodell and the corporation’s staff during the two-day quarterly meeting, calling their performance exceptional when compared to similar funds nationally.
The fund is the source of two-thirds of Alaska’s state revenue, far more than oil and all other taxes combined.A graduate of Marquette University and the University of Kentucky, she worked in a variety of jobs in the financial industry before becoming senior vice president of First Southwest Co. in March 2004. In 2011, she became deputy commissioner of Revenue.
Rodell Governor Trustee Meeting Corporation Board Director Rodell Performance Issue Transfer Vote Bishop Alaska Removal Revenue Value Trustees Action Favor Richards Mahoney Member Apfc
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