The Janus Henderson Group PLC (ASX: JHG) share price is in the red today.
Shares in the global fund manager closed at $47.62 yesterday and are currently trading for $45.89.
That puts the Janus Henderson share price down 3.6% in morning trade.
This comes as the company revealed who will be replacing Dick Weil as the new chief executive officer. Weil will be retiring from that position on 31 March.
Who will be taking over as CEO?
This morning, Janus Henderson reported that Ali Dibadj will take the reins as the new CEO, commencing no later than 27 June.
The Harvard educated 46-year-old previously served as chief financial officer and head of strategy at global asset manager, AllianceBernstein Holding.
Commenting on the appointment, Janus Henderson chairman Richard Gillingwater said:
As part of our CEO transition planning, we conducted an extensive internal and external search to identify an executive who both understands our business and has the necessary strategic expertise to help drive the firm’s next phase of growth for the benefit of our clients and shareholders. The Board is confident that Ali is the ideal choice to lead this great company into its next phase of growth and value creation.
Saying he was delighted with the appointment, Dibadj added:
I have long admired Janus Henderson’s commitment to deliver for its clients with investment and servicing excellence. The executive team, the Board, and I look forward to identifying, expediting, and capturing growth and innovation that creates value for our clients, employees, shareholders, communities, and all stakeholders.
Roger Thompson, Janus Henderson’s CFO, will step in as Interim CEO until Dibadj commences.
The company expects that Dibadj will also join the Board.
Janus Henderson share price snapshot
The Janus Henderson share price has struggled this year, down 21.2% since the opening bell on 4 January.
By comparison, the S&P/ASX 200 Index (ASX: XJO) is down 3% year-to-date.
The post Janus Henderson (ASX:JHG) share price falls following new CEO appointment appeared first on The Motley Fool Australia.
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