LOS ANGELES, CA — March 27, 2025 — The California Wellness Foundation is pleased to announce that Rochelle Witharana has been named as the foundation’s first Chief Financial and Investment Officer, effective immediately. She joined Cal Wellness in 2015 as Director of Finance and Controller and was promoted to Chief Financial Officer in 2019.
Over the past 10 years, Witharana has played a central role in aligning the foundation’s financial strategy with its commitment to health equity and racial justice. As CFO she has led transformative initiatives that have positioned Cal Wellness as a national leader in mission-aligned investing—an approach that ensures the foundation’s investments are consistent with its values and contribute to positive social and environmental outcomes.
Her accomplishments include:
- Investing the foundation’s entire $1 billion endowment in alignment with the foundation’s mission while generating market-rate returns.
- Expanding the foundation’s Program-Related Investments (PRI) portfolio to fund affordable housing, community development, and other social impact initiatives.
- Developing a mission alignment framework that evaluates prospective investments based on alignment with Cal Wellness’ mission, particularly investments that advance racial equity, environmental sustainability, economic justice, and access to health care.
- Advocating for racial and gender equity in the investment field—efforts rooted in the belief that greater diversity, inclusion, transparency, and accountability in the sector will benefit everyone.
“Rochelle’s new title reflects the true scope of her work to ensure all Cal Wellness resources, not just our grantmaking dollars, work toward our mission,” said Richard Tate, President and CEO of Cal Wellness. “Her bold leadership, strategic vision and deep commitment to equity have reshaped how we use our endowment to drive positive change.”
Added Cal Wellness Board Chair Terence Mulligan, “Rochelle brings both discipline and imagination to how we steward our endowment. She has earned the trust of the Board through her deep expertise, integrity, and unwavering commitment to using every financial lever available to advance our mission.”
Beyond her work at Cal Wellness, Witharana is a respected thought leader in the impact investing and foundation finance communities. She has shared her expertise at events hosted by Confluence Philanthropy, Mission Investors Exchange (MIE), and the Foundation Finance Officers Group, among others. She currently serves on the boards of Asian Americans and Pacific Islanders in Philanthropy (AAPIP) and Confluence Philanthropy.
As CFIO, Witharana will continue to oversee the foundation’s accounting, audit, and tax functions, while leading innovation and deepening impact through mission-aligned investment strategies.
“I’m honored to help steward Cal Wellness’ financial resources in ways that drive our mission,” said Witharana. “I’m proud of what we’ve accomplished with our investments, and I look forward to continuing to push the boundaries of what’s possible when we align our money with our values.”
About The California Wellness Foundation
The California Wellness Foundation is dedicated to improving the health of the people of California by increasing access to health care, quality education, good jobs, and safe neighborhoods. For more information, visit www.calwellness.org.