: Morgan Stanley stock dips as CEO sets 12-month timetable for successor


Morgan Stanley’s MS, -1.08% stock is down 0.8% early Friday as CEO James Gorman aired a plan  at the bank’s annual general shareholder meeting to step down in the next 12 months. “The specific timing of the CEO transition has not been determined, but it is the board’s and my expectation that it will occur at some point in the next 12 months,” Gorman said, according to a transcript provided to MarketWatch. “That is the current expectation in the absence of a major change in the external environment.” Gorman has been open about succession planning and said in an interview at Davos, Switzerland, in January that a number of potential successors are in the running.w at Davos in January that a number of potential successors were in the running.

This article was originally published by Marketwatch.com. Read the original article here.

Previous article: Fitch wraps up review of 14 regional banks and issues no further downgrades
Next articleMorgan Stanley shares dip premarket with CEO Gorman reportedly set to leave post


Please enter your comment!
Please enter your name here