By Dean Seal
The chief executive of T. Rowe Price Group is set to become chairman when a pair of the board’s current chairs retire in May.
The asset manager said Tuesday that Chief Executive Robert Sharps will take the chairmanship on May 7.
At that time, William Stromberg will resign as non-executive chair and Freeman Hrabowski will step down as chair of the board’s nominating and corporate governance committee.
Alan Wilson, lead independent director, said the board decided to combine the chair and CEO roles in light of Sharps’ “strong leadership of the firm through challenging times.”
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