Top of the Agenda - Succession

Duff & Phelps CEFs board to lose three independents, gain one

Three long-serving independent directors overseeing Duff & Phelps closed-end funds are due to retire next month, and with only one independent nominee standing for election, the board will be reduced in size following the shareholder vote. The retirements also will affect leadership in the boardroom, as the current chairman is ... >> CONTINUE READING <<<

Invesco Funds adds independent as veteran retires

By Hillary Jackson

Invesco Funds has hired a new independent director to fill a seat vacated by Robert Troccoli, who retired at the end of December after serving the funds for the past nine years. The former CIO of Eaton Vance and Goldman Sachs was the fifth new director to join the boardroom ... >> CONTINUE READING <<<

Lord Abbett taps industry vet in latest succession move

By Hillary Jackson

Lord Abbett Funds will welcome an industry veteran into the boardroom on Jan. 1, the day after two long-serving independent directors veterans retire. "Routine succession planning" has been underway for several years as veteran members have reached retirement age and stepped off, according to Brooke Fapohunda, partner and senior deputy ... >> CONTINUE READING <<<

Vanguard nominates two, as two hit retirement

By Hillary Jackson

The Vanguard board expects to add two new independent directors in early 2025 to fill seats that will be vacated when two long-serving independents retire. The personnel shifts are the latest in a string of recent changes to the board, which named its first-ever independent chairman and a new interested ... >> CONTINUE READING <<<

FT CEFs board names independent chair, expands (temporarily)

By Hillary Jackson

A board overseeing 16 Franklin Templeton-advised closed-end funds has named an independent chair and added three new independent directors, enlarging the board temporarily ahead of scheduled retirements. This is the second Franklin Templeton board in the past several weeks to elevate an independent to the top job, which previously had ... >> CONTINUE READING <<<

NB Funds adds retired general's international, cyber, AI expertise

By Hillary Jackson

Neuberger Berman Funds has filled a seat vacated last June when independent director and retired naval officer Admiral James Stavridis stepped off the board after serving for nine years. Despite the addition, the board will continue to operate at a smaller size starting in January, as there are no immediate ... >> CONTINUE READING <<<