Oregon has a new state Treasurer. Democrat Tobias Read took the oath of office Friday afternoon at the state capitol. The treasurer manages state investments.
Read says that gives his office the potential to influence corporate behavior.
"As a major shareholder, Oregon has the ability to hold CEOs accountable, to support and encourage reforms that protect investors and our financial interests," he told a crowd of family members, friends and other elected officials who gathered for the ceremony in the House chambers. "We are the line of defense for Oregon values and investments, and we'll use our clout to press for transparency, accountability and investor protections."
Read replaces Ted Wheeler, who was term-limited and could not seek re-election. Read served in the Oregon House for a decade before being elected treasurer in November. Democrats have held the treasurer's office in Oregon since 1993.