Waddell & Reed Financial, Inc. Announces Retirement of Henry J. Herrmann as Chairman of the Board
November 27 2017 - 4:15PM
Business Wire
Waddell & Reed Financial, Inc. (NYSE: WDR) today announced
that Henry J. Herrmann, Chairman of the Board, will retire from the
company’s Board of Directors on the date of the company’s annual
meeting of stockholders in April 2018. The Board of Directors has
appointed Thomas C. Godlasky, an independent director of the
company since July 2010, to succeed Herrmann as Chairman of the
Board in 2018.
Herrmann retired as the company’s Chief Executive Officer in
August 2016 after 45 years of service with the company, but
remained non-executive Chairman of the Board. He has been Chairman
of the Board since January 2010 and a director since March 1998.
“It was an honor serving on the Board and working with many
talented employees throughout my career at Waddell & Reed,”
said Herrmann. “I look forward to watching the company’s success
under the leadership of Tom and Phil.”
“I would like to thank Hank for his leadership and countless
contributions to the company throughout his career,” said Philip J.
Sanders, Chief Executive Officer and Chief Investment Officer. “He
left an indelible impact on the investment culture of our firm and
we wish him the best in retirement. On behalf of the management
team, we look forward to working with Tom and the rest of the Board
as we continue to make progress on our previously announced
corporate initiatives.”
Speaking on behalf of the Board, Godlasky stated, “We thank Hank
for the tremendous leadership he has provided to the Board over the
past 19 years, including the last seven years as Chairman. It will
be an honor to serve the company and the Board as Chairman and I
look forward to working with Hank to transition his
responsibilities. I’m confident in the ability of the Board as we
continue to support Phil and his management team in their
efforts.”
About the Company
Waddell & Reed, Inc., founded in 1937, is one of
the oldest mutual fund complexes in the United States, having
introduced the Waddell & Reed Advisors Group of Mutual
Funds in 1940. Today, we distribute our investment products through
the retail unaffiliated distribution channel (encompassing
broker/dealer, retirement, and registered investment advisors), our
retail broker-dealer channel (through financial advisors), and our
Institutional channel (including defined benefit plans, pension
plans and endowments, and our subadvisory partnership with
Mackenzie in Canada).
Through its subsidiaries, Waddell & Reed
Financial, Inc. provides investment management and financial
planning services to clients throughout the United States and
internationally. Waddell & Reed Investment Management
Company serves as investment adviser to the Waddell & Reed
Advisors Group of Mutual Funds, while Ivy Investment Management
Company serves as investment adviser to Ivy Funds, Ivy
NextShares, Ivy Variable Insurance Portfolios and InvestEd
Portfolios, and investment adviser and global distributor to the
Ivy Global Investors SICAV, an umbrella UCITS fund range domiciled
in Luxembourg. Waddell & Reed, Inc. serves as
principal underwriter and distributor to the Waddell &
Reed Advisors Group of Mutual Funds and InvestEd Portfolios, while
Ivy Distributors, Inc. serves as principal underwriter and
distributor to Ivy Funds and Ivy Variable Insurance Portfolios.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171127005840/en/
Waddell & Reed Financial, Inc.Investor
contact:Nicole Russell, 913-236-1880VP, Investor
RelationsorMedia contact:Roger Hoadley, 913-236-1993VP,
Director of Communications
Waddell and Reed Financial (NYSE:WDR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Waddell and Reed Financial (NYSE:WDR)
Historical Stock Chart
From Apr 2023 to Apr 2024