Morgan Stanley (MS, Financial) has announced significant leadership changes effective January 1, 2025. Edward Pick, currently the Chief Executive Officer, will assume the role of Chairman of the Board of Directors. Concurrently, James P. Gorman will be honored with the title of Chairman Emeritus, a non-director honorary designation.
In addition to his new title, Mr. Gorman will serve as a non-employee advisor to Morgan Stanley from January 1, 2025, through the end of 2026. During this period, he will leverage his extensive experience and relationships developed over his 14-year tenure as CEO to further enhance the company's global business impact.
The advisory arrangement includes an annual fee of $400,000, continuation of current health benefits, access to a car and driver, and office and administrative support for company business. Additionally, Mr. Gorman will retain rights related to indemnification and advancement of expenses as per the company's bylaws. This arrangement is subject to termination or renewal at the discretion of the Board.
These strategic leadership changes reflect Morgan Stanley's commitment to leveraging seasoned expertise to drive future growth and maintain its competitive edge in the financial sector.
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