Ann Yerger, Executive Director of the Washington-based Council of Institutional Investors (CII), is resigning after 10 years in the role and 19 years total at an organisation that represents US investors with $3trn assets.
In a statement, the CII said Yerger would step down on July 3 to “pursue other professional opportunities.” No further details were given. The CII has already begun the search for Yerger’s replacement.
“Under Ann’s guidance, CII has built a stellar reputation for leadership, integrity, innovation and consensus-building in support of effective corporate governance and strong shareholder rights,” said CII Chairman Michael McCauley, Senior Officer of Governance at the $174bn Florida State Board of Administration. “The members and board will miss her greatly.”
Yerger joined the CII in 1996 as Director of its Research Service and was promoted to Deputy Director in 2002. In January 2005, she succeeded Sarah Ball Teslik as Executive Director after Teslik joined the Certified Financial Planners Board of Standards as CEO.Beyond her service for the CII, Yerger is a member of the Investor Advisory Group of the Public Company Accounting Oversight Board and the Investor Advisory Committee of the Securities and Exchange Commission. She holds a Master’s in Business Administration from Tulane University.
Founded in 1985, the CII’s mission is to bring big US institutional investors together to advocate shareholder rights and effective corporate governance at listed US companies.
Said the CII on its website: “Our voting membership has grown to more than 125 public, union and corporate employee benefit plans, endowments and foundations with combined assets that exceed $3trn. They and other institutional shareowners have a much greater voice today than they did in 1985 in part because of the constant vigilance and hard work of CII to protect and strengthen that voice.”