Mark did set a high bar. It is certainly going to be a big void to fill.

The [health care] prices for all our members are going through the roof. People on the bottom end are paying for those salaries.

These stock option grants are an insult and add injury in a market of skyrocketing healthcare costs in America ... we find this intolerable and unsustainable.

Mark did a spectacular job for us during some of the most difficult periods in our financial markets.

Russell is a highly respected and seasoned investment leader with a strong reputation for investment vision and innovation. He brings a wealth of investment management experience that will help us achieve our investment goals for our 1.4 million public employees, our employers and California taxpayers.

As a major shareholder, our overall goal is to improve corporate governance and shareholder value.