– USA, NY – Moody’s Corporation (NYSE: MCO) today announced the appointment of current COO, Robert Fauber to its Board of Directors effective immediately. He will succeed Ray McDaniel as President and CEO, effective January 1, 2021.
Ray McDaniel will retire as President and CEO on December 31, 2020, but will remain on the Board of Directors as Non-Executive Chairman.
Dr. Henry McKinnell who has served as the Chairman of Moody’s since 2012, will remain on the Board as a Director.
“Rob’s impressive track record of achievements during his 15 years at Moody’s and deep understanding of our core businesses and the needs of our customers make him the ideal leader to take Moody’s forward. He is uniquely suited to maximize Moody’s strengths and position the company for continued growth in the years ahead,” said Ray McDaniel.
He added: “Moody’s has never been in a stronger position, and as the company continues its evolution as a trusted global provider of risk assessments, now is the right time for this transition to take place,”
“Today’s announcement is the result of a thoughtful and deliberate planning process that will allow Rob to move seamlessly into his new role as CEO,” said Dr. McKinnell. “Over many years, the Board and I have come to know Rob as a strategic, innovative, and results-oriented leader. He has made outstanding contributions to Moody’s, and the Board has complete confidence in his ability to lead the company to new heights.”
“On behalf of the entire Board, I want to thank Ray for his invaluable leadership over the course of his exceptional career,” added Dr. McKinnell. “With Ray as CEO, Moody’s has experienced the strongest growth in its history. Ray grew Moody’s core ratings and research business globally, expanded its international presence, built its data and analytics businesses, and introduced several new products and services. Ray has positioned Moody’s well for continued growth and success, and we look forward to continuing to work with him in his role as Chairman.”
About Robert Fauber
Mr. Fauber has served as Moody’s COO since 2019. He served as President of Moody’s Investors Service, Inc. from 2016 to 2019 and as Head of the MIS Global Commercial Group from 2013 to 2016. Mr. Fauber was Head of Corporate Development for Moody’s Corporation from 2005 to 2013. Before Moody’s, he served in several roles at Citigroup and its investment banking subsidiary Salomon Smith Barney.
Mr. Fauber said, “It is an honor to have the opportunity to lead Moody’s and to build on Ray’s accomplishments. I thank Ray for his mentorship and support and look forward to working with the Board and the entire Moody’s team to provide trusted insights and standards to help decision-makers act with confidence.”
About Ray McDaniel
Mr. McDaniel has served as Moody’s President and CEO since 2012 and served as Chairman and CEO from 2005 until 2012. Mr. McDaniel previously served in a variety of roles, including as Moody’s President, COO, Head of Global Ratings and Research for MIS, and Managing Director, International. He is a director of John Wiley & Sons, Inc. and a member of the Board of Trustees of Muhlenberg College.
“I am extremely grateful to have found a home at Moody’s over the past three decades and to have worked with so many talented and dedicated colleagues along the way,” said Mr. McDaniel. “It has been a privilege to lead Moody’s as it has grown to serve even more customers globally and bring clarity to an increasingly complex, interconnected world.”
About Moody’s Corporation
Moody’s is a global risk assessment firm that empowers organizations to make better decisions. Its data, analytical solutions, and insights help decision-makers identify opportunities and manage the risks of doing business with others. We believe that greater transparency, more informed decisions, and fair access to information open the door to shared progress. With over 11,200 employees in more than 40 countries, Moody’s combines international presence with local expertise and over a century of experience in financial markets.
For more information: https://www.moodys.com/
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