Report: PSF CEO Holland Timmins to Step Down Amid Controversy

The Dallas Express reported today that Texas Permanent School Fund (PSF) Corp. CEO B. Holland Timmins III has announced his intention to retire — only days after being criticized during a meeting of the corporation’s board.

Timmins was named CEO of the recently created corporation after having served for many years as the fund’s chief investment officer when the PSF was administered by TEA employees under the State Board of Education’s management.

The online publication reported that just days before his sudden retirement, Timmins was harshly questioned by the corporation’s board of directors over his management of how well the fund was implementing 2021 legislation to transition the fund away from environmental, social, and governance (ESG) investing.

The fund’s continued investment in firms, such as BlackRock, that allegedly boycott energy producers, drew criticism from State Land Commissioner Dawn Buckingham, who sits on the corporation’s board, the publication reported.