23-38.79 - Chief executive officer; qualifications; duties. - Virginia Statutes

§ 23-38.79. Chief executive officer; qualifications; duties.

A. The Board shall employ a chief executive officer to direct, manage, andadminister the Plan, and who shall be authorized to employ such staff asnecessary to accomplish the Plan's stated objectives.

B. The chief executive officer shall demonstrate extensive experience inmanagement, finance, law, regulatory affairs and/or investments, and suchother qualifications as the Board may set.

C. The chief executive officer shall, in addition to such other duties as theBoard may establish, (i) oversee the development, structure, evaluation, andimplementation of the Plan's strategic goals and objectives; (ii) facilitatecommunication among and between the Board, advisory committees, employees,account owners, beneficiaries, and outside entities interested in the Plan;(iii) enhance the Board's ability to make effective and prompt decisions inall matters related to the administration of the Plan; (iv) with theassistance of the Investment Advisory Committee appointed by the Board andinvestment consultants, direct, manage, and administer the Plan's assets andprograms; and (v) report periodically and as requested to the Board.

(1994, c. 661; 2009, cc. 827, 845.)