The executive committee of the World Gold Council has named James E. Burton as its new chief executive officer, effective Oct. 1.

Burton is the former CEO of the California Public Employees Retirement System (CALPERS). Previously, he was deputy state controller for the State of California.

The executive committee has provided Burton with a specific mandate to reinvigorate the WGC. The Council will focus equally on jewelry and investment demand as well as cutting costs on submarginal programs. By year’s end, Burton says, he will present a detailed and cost-effective overall strategy for the promotion of gold.