CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
The Vanguard Group, Inc. confirmed that its chief executive officer, Tim Buckley, is stepping down to retire. He is set to leave by the end of this year after serving the company for more than three decades.
Hunt for a New Leader
The investment management company's board of directors is actively searching for a new leader who will succeed Buckley. Vanguard is reportedly considering executive candidates from both internal and external settings.
As per Reuters, while Vanguard has already initiated the process for the selection of the next CEO, it has promoted Greg Davis to be the company's president, and his appointment is effective immediately. Davis has been serving as chief investment officer before the promotion.
Outgoing Chief's Extraordinary Achievements in Leading Vanguard
Tim Buckley was hired by Vanguard in 1991 and has held various executive roles since then, including chief investment officer. In 2018, he was promoted to the CEO post and remained in the role until retirement. Under his leadership, Vanguard grew its assets and saw an 80% growth to $9 trillion.
"On behalf of the Board, I would like to thank Tim for his unwavering commitment and outstanding, dedicated service to Vanguard and its investor-owners and crew for more than 33 years," Vanguard's lead independent director, Mark Loughridge, said in a press release. "Under his leadership, Vanguard went through a period of unprecedented innovation, growth, and transformation, building high-value-added services and businesses and expanding our advice offers."
Loughridge added, "We are extremely grateful for Tim's many contributions and look forward to continuing to work with him throughout the upcoming CEO selection and transition process."
Meanwhile, on his decision to retire, Buckley stated, "It has been an absolute privilege to lead Vanguard and help advance the company's mission of giving clients the best chance for investment success. Today, Vanguard is poised to seize the opportunities of the future while continuing to deliver for our investor-owners."
Photo by: Vanguard Press Release
