Don Phillips will be stepping down as head of Morningstar’s Research group after the first of the year, the company announced Tuesday.
Haywood Kelly, currently head of equity, credit and structured credit research, will assume Phillips’ responsibilities as global head of research, effective Jan. 1, 2014. Phillips will remain a managing director as well a member of the board of directors, a position he’s held since 1999.
Both Kelly, 44, and Phillips, 51, will report to Joe Mansueto, Morningstar’s founder, chairman and CEO.
Phillips said in a statement that he’s “had a wonderfully rewarding career and believes passionately in Morningstar’s mission of helping investors.” Said Phillips: “I told Joe that I’d like to step back, but I still want to contribute to Morningstar’s success. He has always been incredibly supportive, and this time was no exception. Our global research team is second to none. Haywood has done a terrific job with our equity, corporate credit, and structured credit teams and has overseen our fund research in the past. He’s an excellent choice for this role, and I look forward to continuing to work closely with him.”