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Posted 29 July, 2021

PRICE T ROWE GROUP INC appointed Robert W. Sharps as new CEO

Nasdaq:TROW appointed new Chief Executive Officer Robert W. Sharps in a 8-K filed on 29 July, 2021.


  The Board of Directors intends to appoint Robert W. Sharps, the Company's President, Head of Investments, Group Chief Investment Officer (CIO), to succeed Mr. Stromberg as CEO, and chair of the Management Committee, effective January 1, 2022.  

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Overview of PRICE T ROWE GROUP INC
Financial Services • Investment Advisors
T. Rowe Price Group, Inc. engages in the provision of investment management services. The company was founded by Thomas Rowe Price Jr. in 1937 and is headquartered in Baltimore, MD.
Market Cap
$22.4B
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PRICE T ROWE GROUP INC by TradingView
Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On July 29, 2021, T. Rowe Price Group, Inc. (the "Company") issued a press release announcing that:


William J. Stromberg, the Company's Chair of the Board of Directors, Chief Executive Officer (CEO) and chair of the Company's Management Committee, will retire from the Company on 

December 31, 2021. He will continue to serve on the Board as non-executive Chair.


The Board of Directors intends to appoint Robert W. Sharps, the Company's President, Head of Investments, Group Chief Investment Officer (CIO), to succeed Mr. Stromberg as CEO, and chair of the Management Committee, effective January 1, 2022. He would also be appointed to the Board of Directors at that time.


Mr. Sharps, age 50, has been President since 2021, Head of Investments since 2018, Group Chief Investment Officer since 2017, and an employee since 1997. He was the Co-Head of Global Equity from 2017 to 2018, and Lead Portfolio Manager, Institutional U.S. Large-Cap Equity Growth Strategy from 2001 to 2016. Mr. Sharps has also been a member of the Company's Management Committee since 2017.


Céline Dufétel, the Company's Chief Financial Officer (CFO), Chief Operating Officer (COO) and Treasurer, will resign from these roles on July 31, 2021. She will serve in an advisory role with the Company until August 31, 2021.


The Board of Directors has appointed Jennifer B. Dardis, the Company's Vice President and Head of Finance, as CFO and Treasurer, effective August 1, 2021. She has also been appointed to the Company's Management Committee. Ms. Dardis, age 48, has been the Company's Head of Finance since 2021, Head of Corporate Strategy since 2016, a Vice President since 2010, and an employee since 2006. 


The Board of Directors has appointed Robert C.T. Higginbotham, the Company's Vice President and Head of Global Distribution, as interim COO, effective August 1, 2021. Mr. Higginbotham, age 53, has been the Company's Head of Global Distribution since 2019, a Vice President since 2012, and an employee since 2012. He was previously Head of Global Investment Management Services from 2018 to 2019 and Head of Global Investment Services from 2012 to 2018.


A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.