OVERLAND PARK, Kan.--(BUSINESS WIRE)--The Board of Directors of Waddell & Reed Financial, Inc. (NYSE: WDR) announced that veteran board member and former Chairman of the Board Alan W. Kosloff will retire from the Company’s board today, in accordance with his planned retirement date.
“Alan has been a leader and source of knowledge for Waddell & Reed Financial for nearly two decades,” said Thomas C. Godlasky, Chairman of the Board for Waddell & Reed Financial, Inc. “His contributions over the years have been invaluable as the Company transitioned during his tenure. We are grateful for his input and support and wish him the very best in his retirement.”
Kosloff, 75, was appointed to the Board in 2003. He served as Chairman of the Board from May 2005 through December 2009 and was Lead Independent Director from January 2010 through April 2018.
“Across 17 years his knowledge and insight helped guide us through the evolution of our business and into our current state of transformational and strategic growth,” said Philip J. Sanders, CEO of Waddell & Reed Financial, Inc. “We sincerely appreciate Alan’s leadership over the years, including his prior Chairman and Lead Independent Director roles. On behalf of the Company, we thank Alan for his service and wish him the very best in retirement.”
Kosloff has served as Chairman of Kosloff & Partners, LLC, Edwards, Colorado, a consulting and investment firm since April 1996.
Previously, he served as Chairman of Jones & Mitchell, an imprinted and licensed sportswear company, from October 1997 to March 2005, and as Chairman, Chief Executive Officer and President of American Marketing Industries, Inc., an apparel manufacturing, distribution and marketing firm, from 1976 to 1995.
Over the last year, in preparation for planned retirements, Waddell & Reed Financial has added four business veterans to its Board membership, bringing added expertise and an enhanced diversity of perspective to the Board. These additions align to the Company’s long-term growth strategies, including advancing the Company’s position as a values-based and purpose-driven organization.
About Waddell & Reed Financial, Inc.
Through its subsidiaries, Waddell & Reed Financial, Inc. has provided investment management and wealth management services to clients throughout the United States since 1937. Today, we distribute our investment products through the unaffiliated channel under the IVY INVESTMENTS® brand (encompassing broker/dealer, retirement, and registered investment advisors), our wealth management channel (through independent financial advisors associated with WADDELL & REED, INC.), and our institutional channel (including defined benefit plans, pension plans, endowments and subadvisory relationships). For more information, visit ir.waddell.com.