A Message from the CIRI Board of Directors

The CIRI Board of Directors has been closely monitoring the actions of Alaska Governor Mike Dunleavy’s administration since he took office just over eight months ago.

The actions the governor has taken during his tenure have been concerning to members of the Board. After meeting with CIRI’s government relations professionals, and following serious deliberation, the Board has determined that action is necessary to protect the health, education and well-being of our shareholders and all Alaskans.

To this end, the Board is supporting the effort to recall Governor Dunleavy. During his time in office, the governor has repeatedly violated Alaska law and the state constitution, and demonstrated his unfitness for office by refusing to appoint a judge within the legal time frame; misusing state funds for political ad campaigns; violating the separation of powers; and incompetently vetoing state funds.

These actions are harming all Alaskans and threatening the state’s business environment. In July, Moody’s Investors Service downgraded Alaska’s outlook from “stable” to “negative” and downgraded the University of Alaska system three notches, making it the second lowest-rated flagship university in the U.S. Both of these actions from a third-party professional organization are concerning to the Board.

The decision to support the Recall Dunleavy campaign is one your Board takes seriously. Where it is unusual for CIRI to wade into political waters, a lack of action would go against our company’s mission of promoting the economic well-being of our shareholders. It would be irresponsible to sit idly by while Alaska is plunged into an avoidable fiscal and social crisis.

As the recall effort moves forward, your Board is committed to keeping shareholders informed. We will reach out through regular CIRI communications, such as the Raven’s Circle newsletter, and e-mail communications such as this one. In the meantime, please direct any questions or requests for additional information to [email protected].

CIRI is committed to protecting our shareholders’ interests and the state services that are so essential to Alaska’s future. Thank you for your support during this critical time.


The CIRI Board of Directors