CHARLESTON, W.Va. -- The board that manages West Virginia's investments will soon be full of new faces.

Six of the Investment Management Board's 13 trustees are serving terms that have expired - one as long ago as 2005. On Monday, Gov. Joe Manchin chose four new trustees to replace them. Two more appointments are in the works. 

Manchin spokesman Matt Turner said there is no specific reason for the changes, other than that the terms had expired. 

"It's time to make some changes in the board," Turner said. "The governor's appreciative of [departing members'] service."

The trustees' terms are staggered, and the board includes three trustees there by virtue of their office: Manchin, State Auditor Glen Gainer and State Treasurer John Perdue.

Manchin selected Frank Oates for a term that will end in 2011, replacing Richard Boyle. New appointee Randy Snider's term also will expire in 2011, replacing Stephen Angel.

The governor appointed Guy Bucci to replace John Poffenbarger for a term that will expire in 2013. He chose Rob Alsop for another term ending in 2013, replacing Samme Gee.

Two other current trustees - Pat Kelly and David Haney - are also serving expired terms. Appointments for those positions will be announced "in the coming days," Turner said.

CHARLESTON, W.Va. -- The board that manages West Virginia's investments will soon be full of new faces.

Six of the Investment Management Board's 13 trustees are serving terms that have expired - one as long ago as 2005. On Monday, Gov. Joe Manchin chose four new trustees to replace them. Two more appointments are in the works. 

Manchin spokesman Matt Turner said there is no specific reason for the changes, other than that the terms had expired. 

"It's time to make some changes in the board," Turner said. "The governor's appreciative of [departing members'] service."

The trustees' terms are staggered, and the board includes three trustees there by virtue of their office: Manchin, State Auditor Glen Gainer and State Treasurer John Perdue.

Manchin selected Frank Oates for a term that will end in 2011, replacing Richard Boyle. New appointee Randy Snider's term also will expire in 2011, replacing Stephen Angel.

The governor appointed Guy Bucci to replace John Poffenbarger for a term that will expire in 2013. He chose Rob Alsop for another term ending in 2013, replacing Samme Gee.

Two other current trustees - Pat Kelly and David Haney - are also serving expired terms. Appointments for those positions will be announced "in the coming days," Turner said.

Craig Slaughter, the board's executive director, said it is not unusual for a board to have so many members serving expired terms.

"It's fairly common, at least from my casual observation of other boards and commissions in state government," he said Monday, before Manchin announced the appointments.

The investment board had its roughest year in 2008, when the value of the state's investment portfolio dropped nearly $3 billion, or 28.3 percent.

Slaughter said it is probably harder to appoint members to the investment board than to other bodies. Unlike in most other states and other public boards in West Virginia, they can be held personally liable for acts of gross negligence and misfeasance, he said.

"It's probably a little harder to find people who are able and willing," Slaughter said.

 Reach Alison Knezevich at alis...@wvgazette.com or 304-348-1240.