Summary
Moody's Corporation announced significant leadership transitions in an 8-K filing dated October 22, 2020. Effective January 1, 2021, Robert Fauber will assume the roles of President and Chief Executive Officer, succeeding Raymond W. McDaniel, Jr. Mr. Fauber, who has been with Moody's since 2005 and most recently served as Chief Operating Officer, brings extensive experience across the company's core divisions, including Moody's Investors Service and Moody's Analytics. Concurrently, Raymond W. McDaniel, Jr. will transition from his current CEO role to become non-executive Chairman of the Board. Henry A. McKinnell, Jr., Ph.D. will step down as Chairman on December 31, 2020, but will remain on the Board. The Board also plans to appoint a Lead Independent Director from its independent directors. This leadership reshuffle signals a planned succession and continuation of strategic direction under new executive leadership.
Key Highlights
- 1Robert Fauber appointed President and CEO, effective January 1, 2021.
- 2Robert Fauber also elected to the Board of Directors, effective October 21, 2020.
- 3Raymond W. McDaniel, Jr. transitions to non-executive Chairman of the Board, effective January 1, 2021.
- 4Henry A. McKinnell, Jr. steps down as Chairman on December 31, 2020, but will remain on the Board.
- 5A Lead Independent Director will be appointed from the independent directors, effective January 1, 2021.
- 6Robert Fauber's prior role as COO involved oversight of Moody's Investors Service and Moody's Analytics.
- 7The filing includes a press release dated October 22, 2020, as Exhibit 99.1 detailing these changes.