The head of the Alaska Mental Health Trust, one of the state’s largest landowners, will resign effective July 5, he told the trust’s board of directors on Thursday.
Steve Williams served as CEO of the $500 million publicly traded company for two years and has held a variety of roles within the organization since 2005.
The trust was established by the state to administer land revenues for the benefit of Alaskans with mental illness, and the Authority is a public corporation that manages the trust. The trust owns large tracts of land that are an important part of the state’s mining and logging industries.
Alison Bierstock, the trust’s director of communications, is serving as interim CEO, while the trust’s board of directors conducts a national search for a replacement.
“It has been my privilege and honor to work with the trust beneficiaries, staff, trustees and state, tribal health and community partners for nearly two-thirds of the trust’s lifespan,” Williams said during a special conference call about his resignation.
He did not give a reason for his resignation but said he looked forward to spending more time with his family.
“I intend to continue to make a positive impact on Alaska,” he said.
The current trust was established in 1994 following a legal settlement that alleged the state had improperly administered a previous mental health trust.
After the Alaska Supreme Court ruled in favor of the plaintiffs, the trust was reconstituted with 1 million acres of land and $200 million. Since then, the trust’s investments have contributed annually to the state’s stand-alone mental health budget, one of three budgets created annually by the Alaska Legislature.
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