Morgan Stanley CEO Steps Down

Published on May 26, 2024

Morgan Stanley’s CEO, James Gorman, announced he is stepping down during an annual shareholders meeting on Thursday. Mr. Gorman said he will leave the position on Dec. 31, giving his place to Ted Pick after a “successful transition” period. In a move unusual for Wall Street, the two other candidates for the top position will remain in the company. The two are executives Andy Saperstein and Dan Simkowitz. The bank’s stock fell nearly 1 percent in morning trading Thursday. Morgan Stanley shareholders approved all the board’s proposals during the annual meeting, regarding elections of directors and executives’ pay. At the same time, all shareholder proposals were rejected....

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