22nd Jan 2019 09:10
LONDON (Alliance News) - Jupiter Fund Management PLC said Tuesday that Chief Executive Maarten Slendebroek will step down early due to the company's decision to expedite succession planning.
The company has appointed the former Co-CEO of Janus Henderson Group PLC, Andrew Formica, as successor to Slendebroek. Formica was until 2018 the Co-CEO of Janus Henderson and had been the chief executive of Henderson Group PLC between 2008 and the merger with Janus Capital in 2017.
"In developing its succession plans, the board identified Andrew as a potential successor and, in light of his availability at this point in time, has decided, with the support of Maarten, to accelerate these plans," the fund manager said. The company's board previously had envisaged the CEO transition to occur over the next couple of years.
Slendebroek will resign as chief executive and director of the company with effect from March 1. He will remain with the business until May 1 to ensure a smooth transition and handover.
"We are delighted to have secured someone of Andrew's calibre to succeed Maarten and are particularly appreciative of Maarten agreeing to step down early and remain for a handover period to work with Andrew to ensure a smooth transition," Jupiter Fund Chairman Liz Airey said.
Shares in company were trading 1.2% higher at 330.50 pence each on Tuesday morning.
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