Brian Rogers, chairman and chief investment officer of T Rowe Price Group Inc., walks to a morning session at the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, U.S. (Photographer: Scott Eells/Bloomberg)

CORRECT: T. Rowe Chairman Brian Rogers to Retire

(Bloomberg) -- (Corrects timeframe of retirements for Ted Wiese, Brian Rogers, James Kennedy)

  • T. Rowe Price’s Non-executive Chairman Brian Rogers will retire from the board at the upcoming annual meeting on April 25, at which time CEO William Stromberg will become chairman of the board
  • Stromberg will also remain president and CEO of the firm
  • The board also declared a quarterly dividend of 76 cents per share, an 8.6% increase from its previous dividend of 70 cents per share, while increasing the share buyback authorization by 10 million shares to about 22.4 million
  • NOTE: T. Rowe Price disclosed last May that Ted Wiese, the firm’s head of Fixed Income, would retire
  • NOTE: Brian Rogers’ retirement as T. Rowe Price’s chief investment officer was announced in November 2016, after almost 35 years with the firm
  • NOTE: William Stromberg was named chief executive officer in May 2015, to replace the retiring James Kennedy

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