The $57 billion Los Angeles County Employees Retirement Association has fired its CEO, the organization confirmed Thursday.
Lou Lazatin’s dismissal came less than a year into her tenure. The reason for her abrupt ouster could not be confirmed by time of publication.
On May 31, two LACERA boards placed Lazatin on administrative leave and voted to fire her at a future date, according to a statement sent by chief counsel Steven Rice. He has taken over Lazatin’s duties “until further notice.”
The pension system officially terminated its top executive on June 7.
“The boards will immediately conduct a national search for a new CEO,” the statement said. “Beyond the boards’ action, it is LACERA’s policy not to comment further on personnel matters.”
This is the second organization to reportedly fire Lazatin as CEO. Owners of the Saint John’s Health Center — a Santa Monica hospital — dismissed her in a 2012 leadership shakeup, the Los Angeles Times reported. She was “escorted out of the building,” the article said.
LACERA hired Lazatin in November 2018 after the permanent role had be vacant for more than a year. “We wanted to find a professional with the right skills — and, importantly, the right vision — to successfully lead LACERA into the future,” then-retirement board chair Vivian Gray said in a member newsletter announcement of the hiring.
Lazatin did not immediately respond to a request for comment.