MCO Moodys Corp

By Colin Kellaher

Moody's Corp. on Thursday said Raymond McDaniel Jr. plans to retire as president and chief executive at the end of the year.

The New York provider of credit ratings, research and analysis said Robert Fauber, currently chief operating officer, would succeed Mr. McDaniel as president and CEO, effective Jan. 1.

Moody's said Mr. McDaniel, who has spent more than 15 years as CEO, would become non-executive chairman on that date, adding that Henry McKinnell Jr., who has been chairman since 2012, would remain a director.

Moody's said Mr. Fauber, 50 years old, joins its board, effective immediately. Mr. Fauber joined Moody's in September 2005 and has been chief operating officer since 2019.

Mr. McDaniel, 62, joined Moody's as a senior analyst in 1987 and has been CEO since April 2005.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

October 22, 2020 07:38 ET (11:38 GMT)

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