Morningstar’s board of directors has appointed Kunal Kapoor as its CEO, effective 1 January 2017.
Kapoor, who currently serves as president for Morningstar, has also been appointed to Morningstar’s board of directors, also effective at the start of next year.
Company founder Joe Mansueto will become executive chairman in January next year and will continue to serve as chairman of the board.
To limit the number of inside directors, Don Phillips has voluntarily opted to step down from the board by year-end. He will continue in his role as a managing director for Morningstar, focusing on research innovation.
Kapoor originally joined Morningstar as a data analyst in 1997 and has been president of the company since October 2015. In his current role, he is responsible for product development and innovation, sales and marketing, and driving execution and accountability across the company.
He previously served as head of global products and client solutions and has served in a variety of other leadership roles for Morningstar, including director of mutual fund analysis, director of business strategy for international operations, president and chief investment officer of Morningstar Investment Services, and head of Morningstar.com and the company’s data business.
“I can’t think of a better person than Kunal to lead Morningstar as we head into the next stage of our company’s innovation and growth. He’s a Morningstar veteran who lives and breathes our mission of creating great products that help investors reach their financial goals. He has a breadth of experience across nearly every area of Morningstar—including research, data and software products, and investment management,” Mansueto said.
Mansueto added: “As I turn 60, I’m ready to transition to an executive chairman role. I love the company as much as I did when I started it in 1984 and am just as excited by our prospects as ever. As I mentioned in my memo to employees I’ll still be very involved with Morningstar, but my role will focus more on strategy, capital allocation, advising Kunal and our senior team, and leading our board of directors.”