Richard M. Charlton, chairman and CEO of investment consulting firm NEPC, will step back from the active management of the firm he launched in 1986, effective March 31, 2011.
Michael Manning, NEPC's president, will assume the new title of managing partner, effective April 1. Both the CEO title now held by Mr. Charlton and the president's title held by Mr. Manning will be dropped, reflecting the firm's continued evolution to a “true partnership,” according to a news release.
In an interview, Mr. Charlton said he'll remain chairman of NEPC, and actually “step up work with clients” — the part of the business the industry veteran says most interests him.
