Morningstar founder Joe Mansueto resigns

The founder and global chief executive of Morningstar, Joe Mansueto, has resigned and will be replaced by the fund data provider’s president, Kunal Kapoor.

Mansueto will become the company’s executive chairman and will also remain chairman of the board.

In a statement, Mansueto said he was ready for an executive chairman role as he approaches 60. He will remain involved in the day-to-day management of Morningstar, and will focus on strategy and capital allocation, and advising Kapoor and the firm’s senior team.

Kapoor joined Morningstar as data analyst in 1997 and steadily rose through the ranks, becoming president in October 2015. At present, he is responsible for product development and innovation, sales and marketing, and driving execution and accountability across the company.

In his new role Kapoor will also replace managing director Don Phillips on the company’s board of directors. Morningstar said Phillips voluntarily opted to step down from the board, as of December 31, 2016, in order to limit the number of internal directors.

Mansueto launched Morningstar from his home in Chicago in 1984. The firm was recently valued at $3.6 billion (€3.2 billion). At launch, the company provided data on 423 funds and has grown to cover 530,000 financial vehicles.

©2016 funds europe

HAVE YOU READ?

THOUGHT LEADERSHIP

The tension between urgency and inaction will continue to influence sustainability discussions in 2024, as reflected in the trends report from S&P Global.
FIND OUT MORE
This white paper outlines key challenges impeding the growth of private markets and explores how technological innovation can provide solutions to unlock access to private market funds for a growing…
DOWNLOAD NOW

CLOUD DATA PLATFORMS

Luxembourg is one of the world’s premiere centres for cross-border distribution of investment funds. Read our special regional coverage, coinciding with the annual ALFI European Asset Management Conference.
READ MORE

PRIVATE MARKETS FUND ADMIN REPORT

Private_Markets_Fund_Admin_Report

LATEST PODCAST