- Morningstar (NASDAQ:MORN -0.9%) has chosen President Kunal Kapoor to be its next CEO, beginning in 2017.
- Kapoor will succeed founder Joe Mansueto, who will become executive chairman and continue to serve as chairman of the board. The moves are effective Jan. 1.
- In order to limit the number of inside directors, Don Phillips has elected to step down from his seat effective Dec. 31. He'll remain a managing director for the company focusing on research innovation.
- Mansueto says he plans to focus more on strategy, capital allocation and advising Kapoor from the chairman role.
- Kapoor has been with Morningstar since joining as a data analyst in 1997.