Chief executive officer and chairman of Legg Mason Mark Fetting is to step down on 1 October.
Fetting will remain as a consultant to the company through to the end of the year. Meanwhile, lead independent director W. Allen Reed will be become non-executive officer and Joseph Sullivan will work as interim CEO while the board searches for a permanent replacement. "The opportunity to lead Legg Mason through a crucial period of its history has been both challenging and fulfilling...
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