Acting state Revenue Commissioner Deven Mitchell has been chosen as the new chief executive officer of the Alaska Permanent Fund Corp.
October 4, 2022
Mitchell has called Alaska’s nest-egg oil wealth fund the state’s “trump card” as a renewable source of revenue, . His message to the board was that he would not chase short-term cash yields, as the fund has been invested for long-term growth. He also said he doesn’t see the CEO’s role as second-guessing investment decisions made by the corporation’s chief investment officer or as overriding his decisions.
Mitchell last month stepped down as the state’s debt manager and executive director of the Alaska Municipal Bond Bank Authority when Gov. Mike Dunleavy appointed him to be the acting Department of Revenue commissioner..
The other finalists were Melanie Hardin, who currently lives in California and is an executive at Verizon Communications, and Morgan Neff, chief investment officer of the Alaska Industrial Development and Export Authority.
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