Board members had been considering a four-year plan that included an aggressive strategy to reach $100 billion by 2028.
Financial returns have been less than needed to keep the fund’s spendable account full, potentially endangering the state budget.
When the office opens in space leased by the Department of Environmental Conservation, it will be the first time since its creation in 1976 that the corporation has opened a satellite branch outside Juneau.
Rodell had served in the position since 2015. It grew from $51 billion to $81 billion during her tenure.
Schutt said he’ll aim to strengthen the fund “for the long-term benefit of Alaskans, making sure that the permanent fund really is permanent.”