Changes at Vanguard

[MRG]

Don't know this impact any of us directly. Maybe we get a new member?



From the attached:

Vanguard Group, the world's largest mutual fund manager, said on Thursday Chief Executive Bill McNabb will step down at the end of the year and be replaced by Chief Investment Officer Tim Buckley, betting on the internal successor to oversee rapid growth.

McNabb, 60, who took the CEO job in 2008, will remain chairman of the Pennsylvania company where he oversaw massive inflows to its low-cost products, including index funds, after steering the company through the financial crisis.




Vanguard's CEO Bill McNabb Is Stepping Down | Fortune.com

 

[Blue Collar Guy]

I just read my email, Im voting no on him, and if they let me Im writing myself in

 

[Fedup]

Was he forced out?

 

[SecondCor521]

I just read my email, Im voting no on him, and if they let me Im writing myself in

Why?

 

[MRG]

Was he forced out?

You know what I do.

The announcement said he's staying on the board. I'd guess all parties are happy.

 

[travelover]

.... replaced by Chief Investment Officer Tim Buckley.......http://fortune.com/2017/07/13/vanguards-ceo-bill-mcnabb-stepping-down/

I'm delighted to hear that Tim Buckley is still alive. Loved his music in the 70's

 

[W2R]

I saw that email and was concerned, at first. But it also said that McNabb took the job in 2008, and I don't recall any earthshaking changes at Vanguard in 2008.

Let's hope the same is true this time.

It said that McNabb is 60. I don't know about the rest of you, but when I was 60 I already had an intense desire to either retire or to lessen my workload by stepping down to a position of lesser responsibility, had that been possible. My guess is that this is the reason why he is stepping down from the CEO position.

 

[braumeister]

McNabb took the job in 2008

So the last time Vanguard changed the top guy there was a big financial meltdown. Now they're doing it again. Hmmm...

 

[Texas Proud]

So the last time Vanguard changed the top guy there was a big financial meltdown. Now they're doing it again. Hmmm...

LOL.... good one...


This is basically a nothing burger as some would say... I do not see them every getting someone at the top who was not into the philosophy of Vanguard...

I read it and deleted it pretty quickly....

 

[Blue Collar Guy]

Why?

If Im elected head of Vanguard, Ill show the rest of the investing world that the majority members on this forum are index investors , If they want to join our ranks they should invest with Vanguard and retire like us . I also wrote myself in for Supreme Court Judge on the last General election. I didnt trust those scanning machines. But low and behold 1 vote was tabulated for the BCG. It was a close race, I think the winner got 11,000 Im on page 16 http://vote.nyc.ny.us/downloads/pdf...upreme Court 11th Judicial District Recap.pdf

 

[Onward]

Maybe we get a new member?

He should be shunned for pushing active funds.

 

[SecondCor521]

It was a close race, I think the winner got 11,000 Im on page 16 http://vote.nyc.ny.us/downloads/pdf...upreme Court 11th Judicial District Recap.pdf

You're John Cena?

 

[Blue Collar Guy]

You're John Cena?

If you scroll, you will see some people that are dead got more write in votes than I did.

 

[ArkTinkerer]

If Im elected head of Vanguard, Ill show the rest of the investing world that the majority members on this forum are index investors , If they want to join our ranks they should invest with Vanguard and retire like us . I also wrote myself in for Supreme Court Judge on the last General election. I didnt trust those scanning machines. But low and behold 1 vote was tabulated for the BCG. It was a close race, I think the winner got 11,000 Im on page 16 http://vote.nyc.ny.us/downloads/pdf...upreme Court 11th Judicial District Recap.pdf

If you can't trust yourself then who can you trust?!

 

[foxfirev5]

It's really not an issue. "Meet the new boss, same as the old boss". The Who.