- Signs for push-out forces
- After about a year on the job
- Thanks and good wishes for Advani
- Dual President role eliminated
- Jenny Johnson becomes sole President
(management-change.com) — San Mateo, California, December 15, 2016 — Vijay Advani, Co-President of Franklin Templeton, leaves. It is a change at short notice. As announced by Franklin Resources, Inc. in a news release and in a regulatory filing published on Thursday, December 15, 2016, Vijay C. Advani, Co-President at Franklin Templeton Investments, leaves the investment manager in a surprising move after about a year on the job, effective December 31, 2016.
Franklin Templeton eliminates the dual President role. Jenny Johnson will be sole President.
Franklin Resources, Inc. said: “On December 15, 2016, Vijay C. Advani, Co-President of Franklin Resources, Inc. …, resigned from his position with the Company, effective December 31, 2016.”
Franklin Resources, Inc. also said: “Mr. Advani has announced plans to join TIAA Global Asset Management as president and chief operating officer.”
Advani will be President and Chief Operating Officer at TIAA Global Asset Management
TIAA Global Asset Management has named Vijay Advani as President and Chief Operating Officer, a new role for the company, effective January 9, 2017.
He will report to Rob Leary, CEO of TIAA Global Asset Management.
TIAA Global Asset Management announced the move on Thursday, December 15, 2016.
Share price decline
The change follows a decline in the share price of Franklin Resources, Inc. since December 2014.
Chaired by Gregory E. Johnson
Franklin Resources, Inc. is chaired by Gregory E. Johnson (55).
Johnson is Chief Executive Officer, Director and Chairman at Franklin Resources, Inc. Johnson has been the Chief Executive Officer since January 2004, Director and Chairman since June 2013 and previously was President from December 1999 to October 1, 2015 at Franklin Resources.
On the job as Co-President since 2015
Vijay C. Advani has been Co-President at Franklin Templeton since October 1, 2015.
In his most recent role at Franklin Templeton, Advani was responsible for long-term strategic initiatives, investment management, trading and global retail and institutional distribution.
Over a career of more than 20 years he also held product development, client relationship and marketing leadership roles in Asia, Eastern Europe and Africa.
He also served as President of Templeton Asset Management (India) Pvt. Ltd.
Prior to joining Franklin Templeton, he spent 11 years at the International Finance Corporation, the World Bank Group unit responsible for helping governments to develop securities and financial markets.
Advani also serves as a board member for the U.S.-India Business Council; was a founding board member at Lok Capital, which drives development in India; and, holds other charitable board and advisory positions.
Johnson and Advani have worked together in senior leadership positions since 1995 and were named co-presidents of Franklin Resources in 2015.
Signs for push-out forces
It is not completely certain what forces eventually triggered Vijay C. Advani’s move.
The Push-out Score™ determined by management-change.com suggests that push-out forces may have contributed to the management change.
Read the full story in the management-change.com report 47.2016 ($).