JUNEAU -- Gov. Bill Walker has removed one of the longest-serving members of the Alaska Permanent Fund Corp., replacing him with his Attorney General and former law partner.
Larry Hartig, Commissioner of the Department of Environmental Conservation, has been replaced with Craig Richards on the board that oversees the $53 billion fund.
Both men are members of Walker's cabinet.
Hartig has served as a trustee or the $53 billion fund since 2009.
Walker said he appointed Richard to the fund's board of trustees because of his extensive financial experience as a lawyer.
"He practiced in the fields of public finance and project development for the majority of his career. He also has an undergraduate degree in finance from the University of Virginia and an MBA from Duke University. While a student, General Richards interned for three different asset management firms that managed money for the Permanent Fund," Walker said in a statement provided by Press Secretary Katie Marquette.
Hartig, who leaves the board, was first appointed by Gov. Sean Parnell in November, 2009, making him second in tenure only to Board Chair Bill Moran, President of Ketchikan's First Bank, who was first appointed in 2007.
Another board member, Carl Brady of Anchorage, was appointed in 2011, but was previously appointed to two separate four-year terms, and has the longest overall service as a trustee.
Richards' appointment was announced Monday on Gov. Walker's Facebook page.