Angela Rodell

Angela Rodell

Lawmakers want answers on CEO firing at permanent fund corp

Board decision raises questions for politicians

The sudden firing of the Alaska Permanent Fund Corporation’s CEO Angela Rodell has state lawmakers and political observers looking for answers.

Rodell’s firing was announced Dec. 10, during a meeting of the APFC Board of Directors, who voted 5-1 in favor of her removal following a closed-door executive session. Rodell had clashed with board members in October over a proposal to cut pay for APFC employees, which the board ultimately rejected. The board gave no explanation for Rodell’s firing.

Since then, lawmakers and others have called for an investigation into the firing, often citing the fund’s record-breaking performance during her tenure. Speaking to the Empire on Monday, Sen. Gary Stevens, R-Kodiak, said the board had a legal right to privacy under personnel laws, but an explanation was needed.

“We may never know the reason, but when you look at how well the permanent fund’s been doing,” Stevens said. “I hope we can set up a time and place to meet with the board to explain what happened.”

[Alaska Permanent Fund Corp. board ousts CEO Rodell]

Rodell did not respond to a message seeking request for comment.

Before becoming CEO in 2015, Rodell had been Department of Revenue commissioner since 2013 and is currently the chair of the International Forum of Sovereign Wealth Funds. According to APFC, the permanent fund was at more than $50 billion in 2015 when Rodell took over the corporation, and currently sits at more than $80 billion. The fund grew considerably during the COVID-19 pandemic, which Rodell told the Empire in July was because the fund was well-positioned to take advantage of volatility in the market.

However, Rodell has also opposed the Alaska State Legislature exceeding the 5% of market value earnings the state allows itself each year to fund the government without first having a long-term fiscal plan in place. Gov. Mike Dunleavy has argued the state should overdraw the fund, only once, in order to transition the state to more fiscal footing while at the same time paying large permanent fund dividends to Alaskans.

But lawmakers spent the entire summer in extended special sessions clashing over the direction of what that fiscal plan might look like, and despite four special sessions, lawmakers were unable to make much progress toward a comprehensive solution.

Current and former lawmakers called for answers on social media, and the bicameral Legislative Budget and Audit Committee has added the issue to the agenda of its Dec. 15, meeting.

Contact reporter Peter Segall at psegall@juneauempire.com. Follow him on Twitter at @SegallJnuEmpire.

More in News

A seal pup rescued from the Kenai Beach is in the care of the Alaska SeaLife Center’s Wildlife Response Program in Seward, Alaska, on June 6, 2024. (Photo provided by Alaska SeaLife Center)
2nd seal pup rescued in Kenai, ASLC now caring for 4

A second newborn seal was rescued on Kenai Beach and admitted by… Continue reading

Rep. Ben Carpenter, R-Nikiski, right, slices and serves fresh watermelon during North Peninsula Recreation Service Area’s Family Fun in the Midnight Sun at the Nikiski Community Recreation Center in Nikiski, Alaska, on Saturday, June 15, 2024. (Jake Dye/Peninsula Clarion)
North Peninsula Rec holds annual summer celebration

Attractions at this year’s event included carnival games, food trucks, field games, face painting, live music and demonstrations

The Blood Bank of Alaska’s new Kenai Peninsula center is seen in Soldotna, Alaska, on Monday, June 17, 2024. (Jake Dye/Peninsula Clarion)
Blood Bank relaunches permanent center on Kenai Peninsula

The new location joins others in Anchorage, Fairbanks, Juneau and Wasilla

Nathan Nelson directs a kite flying dozens of feet up in the sky above Millennium Square in Kenai, Alaska, during the Kenai Kite Festival on Saturday, June 15, 2024. (Jake Dye/Peninsula Clarion)
Sun, wind, friends and kites

Kiters both experienced and novice gather for Kenai festival

Marchers walk from the Soldotna Regional Sports Complex to Soldotna Creek Park as part of Soldotna Pride in the Park on Saturday, June 3, 2023 in Soldotna, Alaska. (Ashlyn O’Hara/Peninsula Clarion)
Pride in the Park, other Pride celebrations set for Saturday

The event starts with the Two-Spirit March, which meets at the Soldotna Regional Sports Complex at 11:30 a.m.

Signs direct visitors at Seward City Hall on Sunday, Nov. 28, 2021, in Seward, Alaska. (Ashlyn O’Hara/Peninsula Clarion)
Seward OKs around $362,000 in purchases for Electric Department material

A pair of resolutions were included and passed within the consent agenda

Sockeye salmon are gathered together at a test site for selective harvest setnet gear in Kenai, Alaska, on Tuesday, July 25, 2023. (Jake Dye/Peninsula Clarion)
Dipnets for commercial setnet fishers given emergency approval by CFEC

Up to three 12-hour periods of commercial dipnetting “may” be allowed each week from June 20 to July 31

Council member Dave Carey speaks during a meeting of the Soldotna City Council in Soldotna, Alaska, on Wednesday, June 12, 2024. (Jake Dye/Peninsula Clarion)
Soldotna explores its water and sewer expansion fees

The fees are a single charge to people who are newly or differently demanding or utilizing the services of the city’s water and sewer system

Sockeye salmon caught in a set gillnet are dragged up onto the beach at a test site for selective harvest setnet gear in Kenai, Alaska, on Tuesday, July 25, 2023. (Jake Dye/Peninsula Clarion)
Disaster determination received for 2023 east side setnet fishery

Disasters have been recognized for 2018, 2020, 2021, 2022 and 2023

Most Read