The State Teachers Retirement System (STRS) of Ohio appointed Steven Toole as executive director, effective in July.
Toole succeeds Aaron Hood, who had been serving in the role on an interim basis since November of last year, when the pension plan’s previous executive director, Bill Neville, resigned amid allegations of sexual harassment against the STRS staff. The pension fund’s chief financial officer and then acting executive director Lynn Hoover also stepped down from their roles at the time.
Toole’s extensive career includes serving as the executive director of the North Carolina Department of State Treasurer – Retirement Systems Division from 2011 to 2019. Before that, he worked at Nationwide Insurance in Columbus, where he served in a number of roles, including vice-president of business development and was a member of its Retirement Plans Executive Leadership Team. Currently, he is a senior product manager for Principal Financial Group in Iowa.
“Steven Toole has exceptional experience, having successfully led one of the nation’s largest public pension systems,” said Rudy Fichtenbaum, chair of Ohio STRS’ retirement board, in a press release. “Toole has also held senior management positions in the private financial services sector. We are confident he will do an outstanding job continuing STRS Ohio’s mission of providing a financial foundation for Ohio’s more than 530,000 active, inactive and retired members.”
“To ensure an orderly and smooth transition, Mr. Toole will work closely with Interim executive director Hood, who we thank for his service the past seven months,” added Fichtenbaum.
