Federal Employees News Digest

Thrift Board chairman exits June 30

Embattled Federal Retirement Thrift Investment Board Chairman Michael Kennedy’s last day on the job was June 30.

Kennedy's exit follows a turbulent period in which Labor Secretary Eugene Scalia, after a directive from the White House, ordered the Board to immediately stop plans to shift one of its funds to a global index investing in Chinese firms linked to that nation's military and government.

At the June 22 monthly Board meeting, Kennedy said that current board member David A. Jones would succeed him as acting chairman until the Senate confirmed the president's nominees to replace him and two of his fellow Board members.

Jones is also set to depart the board, which is being completely remade with President Donald Trump's appointees.

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