Calpers=largest pension fund in the USA

[Value Buy]

Hired a CEO that admitted in her application for the position she did not have a College degree, and to this day has not finished a degree.
I am wondering what everyone's thought on this is.
Do you think a Ceo of a multi billion dollar hedge fund retirement corporation (that is basically what it is) where your retirees are should expect a sound experienced money manager to be in charge?
I have often wondered if CEO's have that much influence on the success or failure of their respective corporations, or does the board of directors and other highly compensated managment people have more control of the financial direction of their corporation.
We have had corporations in the news lately where company leaders seem to lack certain skills while running their companies. Examples right now are Tesla and Papa John's. No one denies these leaders led the corporation to success (Tesla is still out on this issue) but seemed to have the right stuff, until they didn't.

www.msn.com/en-us/money/companies/calpers-hired-a-ceo-without-a-college-degree-now-the-public-pension-fund-is-explaining-why/ar-BBNiI31

Discuss.

[bean29]

Interesting article. She has about 30 years experience in government, and her position does not choose the investments for the fund. It does seem as though she is qualified for the job.

A degree is not everything, and a lot of what you learn in college can also be learned on the job.

It sounds as though she is doing the job they hired her to do.

[kadee79]

Many, many degrees are over-rated.  Time in the pits would be much better for making decisions that can affect even the lowliest person that works at any place. 

Just an example...a 'college educated' new upper management person in a grocery chain where I worked decided that all the canned pie fillings should go into the fruit aisle instead of being in the baking aisle.  That didn't last long.  This person sat at a desk, they didn't grocery shop, they didn't see how items correlate to the normal shopper....in other words, they were ignorant in what they were doing.

 

[billisonboard]

Having a degree from The Evergreen State College coulda/woulda have been more of an issue than no degree at all.  But you got to love the Geoducks! 

[OldCoyote]

A customer and an acquaintance of mine,  their two daughters went to work at a major bank Co. as tellers.

14 years later one is in Austin TX is a Vice President in charge of 36 branches,,

Her friend she started with,, is now in charge of seven divisions,, Has seven MBA working under her!

Both of these women only have High school degrees!