8-KLeadership ChangesRegulation FDExhibits & Filings

AFFILIATED MANAGERS GROUP, INC. 8-K Report, Executive Changes (Mar 25, 2024)

Filed March 25, 2024For Securities:AMGMGRBMGRMGRDMGRE

Summary

Affiliated Managers Group, Inc. (AMG) has announced significant leadership changes within its executive team, effective April 1, 2024. Thomas M. Wojcik is transitioning from Chief Financial Officer (CFO) to the newly appointed role of Chief Operating Officer (COO), where he will focus on capital formation capabilities. This move sees Dava E. Ritchea appointed as the new CFO, succeeding Mr. Wojcik. Ms. Ritchea brings substantial financial leadership experience, having previously served as CFO at Sculptor Capital Management Inc. and Assured Investment Management LLC. These appointments signal a strategic realignment within AMG's operational and financial leadership. Mr. Wojcik's transition to COO suggests an increased focus on growth and capital generation, while Ms. Ritchea's extensive background in finance is expected to strengthen the company's financial management and capital strategies. Investors should monitor how these changes impact the company's strategic initiatives and financial performance moving forward.

Key Highlights

  • 1Appointment of Thomas M. Wojcik as Chief Operating Officer (COO), effective April 1, 2024.
  • 2Appointment of Dava E. Ritchea as Chief Financial Officer (CFO), effective April 1, 2024.
  • 3Ms. Ritchea previously served as CFO at Sculptor Capital Management Inc.
  • 4Mr. Wojcik will oversee capital formation capabilities in his new COO role.
  • 5Ms. Ritchea will oversee finance, accounting, and capital management functions as CFO.
  • 6Ms. Ritchea's compensation includes a $500,000 base salary and a $3.5 million equity grant, designed to align her interests with long-term stockholder value.
  • 7The company issued a press release on March 25, 2024, to announce these leadership changes.

Frequently Asked Questions

AMG has appointed Thomas M. Wojcik as Chief Operating Officer and Dava E. Ritchea as Chief Financial Officer, both effective April 1, 2024. Mr. Wojcik transitions from CFO, and Ms. Ritchea joins from Sculptor Capital Management Inc.

As COO, Mr. Wojcik will oversee the Company's capital formation capabilities and will continue to report to the President and CEO, Jay C. Horgen.

Ms. Ritchea brings extensive financial leadership experience, including her recent role as CFO of Sculptor Capital Management Inc. As AMG's new CFO, she will oversee the company's finance, accounting, and capital management functions, reporting to the CEO.

Ms. Ritchea will receive an annual base salary of $500,000. She is also eligible for 2024 incentive compensation and will be granted equity interests valued at $3,500,000 within ninety days of joining. This equity grant is intended to incentivize her and align her interests with stockholders' long-term interests, as well as compensate for forfeited amounts from her previous employer.