Kostyu re: Buser resignation
Stephen A. Buser, a former finance professor at Ohio State University, is resigning effective Aug. 17. He’s citing potential ethical conflicts between his work on the board of the State Teachers Retirement System and his investment consulting practice.
In June, Judith Dunn Fisher resigned, saying she was driven to do so by “the inability and/or unwillingness of the STRS board (and its leadership) to ensure civility and respect ... .”
Fisher, who had two years remaining on her four-year term, was appointed by Gov. Bob Taft, who has not named a replacement.
Unlike Fisher, Buser said he had no problem with how the board operated. Instead, he said he worried that his consulting work would conflict with the legal requirement that he not work with any organization that has business or seeks to do business with retirement system.
Buser was appointed by former Treasurer Joseph Deters and had two years remaining in his term. Brian Cunningham, a spokesman for Treasurer Jennette B. Bradley, said the process will begin to name a replacement.
Because of the restrictions placed on board members, Buser said he gave up part-time teaching at Ohio State and had turned away several clients. He said his financial status didn’t influence his decision.
“I have a fiduciary responsibility to the (system’s) members,” he said. “I was not happy that (my work) could lead to problems.”
Buser said he had not sought the advice of the Ohio Ethics Commission about whether there was a conflict of interest. He suggested it could be difficult for a qualified replacement not to have the same potential problems.
Reach Copley Columbus Bureau Chief Paul E. Kostyu at (614) 222-8901 or e-mail: paul.kostyu@cantonrep.com
posted by Kathie Bracy at 9:34 PM
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