In the Margins

AllianceBernstein CEO ousted, board revamped

May 2, 2017

By The New York Times

AllianceBernstein Holding's CEO Peter Kraus has been ousted by the money manager’s controlling shareholder and six new members have been appointed to and nine members removed from the AllianceBernstein board. AB, an institutional fund manager rooted in a culture of active stock management, has seen investors take their money elsewhere in recent years despite efforts by Kraus to reverse the company’s fortunes. Read the original story from The New York Times.