CalPERS announced that its director of corporate governance, Dennis Johnson, is leaving to join the private sector as a managing director of the Shamrock Activist Value Fund. Johnson will also resign as chair of the board of directors of the council of institutional investors. Johnson has been a director of corporate governance for CalPERS for three years.

The system plans to start looking for a successor soon. Eric Baggesen, senior investment officer, public equities, will handle daily management of the 17-member corporate governance team in the interim.