US- CalPERS has appointed Robert Walton interim chief executive following the departure of James Burton after eight years in the role to head up the World Gold Council in London.

Walton, who is the scheme’s assistant executive officer and responsible for governmental affairs and planning and research, takes over day to day running of the fund from the beginning of September.

CalPERS’ board expects to name a full time successor to Burton within the next two months after candidate interviews. Walton, who has been with the $145bn California public employees’ fund for 27 years, has said he is not in the running for the permanent chief executive position.

Positions for the deputy chief executive and general counsel will remain unfilled until after the board selects the new CEO. Walton's duties as assistant executive officer will be shared by other officers until he resumes the post.

President of the CalPERS board William Crist said of Walton: "he has vast experience with the organization and has been responsible over the years for many of its branches and divisions."

During his CalPERS service, Walton has had responsibility for numerous departments including fiscal services, human resources, public affairs and IT.

The board also announced the appointment of deputy general counsel Peter Mixon as acting general counsel. Mixon will oversee the CalPERS legal office and provide advice to the board and executive staff.

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