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(Bloomberg) – 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. Brian Rogers' retirement as T. Rowe Price's chief investment officer was announced in November 2016, after almost 35 years with the firm. William Stromberg was named chief executive officer in May 2015, to replace the retiring James Kennedy.
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