James Burton will replace Haruko Fukuda as chief executive officer of the London-based World Gold Council. Currently, Burton is CEO of the California Public Employees Retirement System.
Burton took over the under-funded plan in 1994; under his leadership, it became the largest public pension system in the U.S., with $140 billion in assets.
In his new job, Burton intends to focus on jewelry and investment demand, as well as cut marginal programs. By year-end, he will unveil a new strategy for promoting gold.
Fukuda left in June after holding the post for nearly three years.
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