Janus Henderson’s co-chief executive officer Andrew Formica has resigned from his CEO role. This sees the other co-chief t0 become the sole CEO.
The company said Andrew Formica would relinquish his role amid its second quarter result, according to several media, Janus Henderson said it had reviewed the two candidates for the position over several months and said Richard «Dick» Weil was the most appropriate person to take the company forward.
The company said the co-CEO structure introduced following the merger of the two groups had «achieved its goals» and would be reverting to a sole CEO format. The move sees Formica end ten years in the senior post, which includes leading Henderson Global Investors prior to the merger. He will remain in an advisor role through to the end of the year.
In the announcement, Janus Henderson said the company’s third quarter results would reflect the payment of a $12 million severance charge in relation to acceleration of longer-term incentives.
