May 2, 2016
After more than 30 years of distinguished service, Robert Levy, CFA will retire at year-end. As part of the transition, Bob will step down as Chairman of Harris Associates, effective June 30, 2016 and current Harris co-CEOs Kevin Grant and Tony Coniaris will be elevated to co-Chairmen. David Herro will continue as Deputy Chairman, and Kristi Rowsell will continue as President. Tony and Kevin, who have been with Harris 17 years and 28 years respectively, have been co-CEOs of Harris Associates since January 2015.
Bob will continue in his role as U.S. Equity Chief Investment Officer and Portfolio Manager for U.S. Equity, U.S. Concentrated, Private Client as well as Global Equity and Global Concentrated strategies through year-end. Beginning January 1, 2017, Bill Nygren will become U.S. Equity CIO, and Bob's portfolio management responsibilities will be assumed primarily by Tony and the U.S. equity strategy team.
“Bob’s extraordinary leadership of Harris Associates over the last 25 years is unparalleled. Our reputation as one of the world’s pre-eminent investment management organizations is due to Bob’s thoughtful stewardship and relentless pursuit of excellence in all aspects of our business,” said Kevin Grant. “We would like to thank Bob for his countless contributions to the firm, and we look forward to building on this success in the years ahead,” added Tony Coniaris.