Craig Richards, a longtime member of the board in charge of the Alaska Permanent Fund Corporation, has been replaced.

On Monday afternoon, Gov. Mike Dunleavy announced he had selected Ralph Samuels, a former state legislator, businessman and tourism expert, to serve on the board in a public seat formerly occupied by Richards, whose term was slated to expire this year.

The board directs Alaska’s $85 billion Permanent Fund, whose investments are the source of more…