The FINANCIAL — Morgan Stanley on July 27 announced that Thomas Glocer has been appointed Independent Lead Director of Morgan Stanley’s Board of Directors, taking over from Erskine Bowles effective September 1, 2017.
Mr. Glocer was appointed by the independent directors of the Board. His appointment reflects the Board’s governance policy of rotating Lead Directors after a period of time, according to Morgan Stanley.
Mr. Glocer has served as a director since May 2013 and as Chair of the Operations and Technology Committee since February 2014. Mr. Glocer served as CEO of Thomson Reuters Corporation from 2008 through 2011 and as CEO of Reuters Group PLC from 2001 to 2008.
The Board of Directors also appointed two new committee chairs – Jami Miscik will chair the Operations and Technology committee and Rayford Wilkins will chair the Nominating and Governance committee, both effective September 1, 2017.
“Tom is a natural leader, a sophisticated director and has deep knowledge of financial services with specific expertise in technology, fin tech and banking. We are excited to have him step into this new role,” said James Gorman, Chairman and CEO of Morgan Stanley. “Erskine has served as Lead Director with distinction. He has a unique understanding of our culture and values. As Lead Director, he has been an invaluable asset in helping lead the transformation of Morgan Stanley. We have been lucky to have him as our Lead Director and look forward to his continued service on the Board.”
Thomas Glocer added, “I am honored to be appointed Lead Director and look forward to working with the Board, our shareholders and our employees to oversee the continued execution of Morgan Stanley’s strategy.”