Updated with correction.
Lowell G. Miller will retire as chief investment officer of Miller/Howard Investments, spokeswoman Jaimie Egan confirmed in an email.
Effective Nov. 15, 2020, he will be replaced by Deputy CIO Gregory L. Powell.
"I take great pride in Miller/Howard — both in the business and the culture that we have built over the past 30 years. I have complete confidence in the team that I've worked with side-by-side for years, and their focus on delivering dividend income and growth of income for our clients," said Mr. Miller in a news release announcing his retirement. "We have worked hard to put our succession plan in place, and this is now an opportune time for me to look toward retirement, knowing that the management of the firm and the portfolios are in very capable hands."
Mr. Miller will continue to serve on the money manager's board.
This follows the news in August that Miller/Howard Investments chief operating officer Luan Jenifer was promoted to president, replacing Dana Troxell.
Miller/Howard Investments had $4.2 billion in assets under management and advisory as of Sept. 30.