LOS ANGELES /PRNewswire/ -- The Board of
Directors of Capital Group, the home of American Funds and one of
the world's leading investment management firms, today announced
the election of Tim
Armouras Chairman of Capital Group. Tim is currently
Chairman of Capital Group's management committee and Capital
Research and Management Company.
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Tim,
together with the other senior members of the firm's management
committee — Rob
Lovelace, President, Capital Research and Management
Company, and Phil de Toledo, President, Capital Group — will continue
to work with the other members of the committee to set, communicate
and implement Capital's overall business strategies, as well as
oversee operations. The change reflects a leadership succession
plan that has been in motion for several years, and was formalized
after the passing of former Chairman, Jim
Rothenberg.
Tim
said, "All of us here at Capital deeply mourn the loss of our
friend and colleague, Jim. He was a purposeful leader, who
possessed a talent for taking decisive action in the best long-term
interests of our clients, investors and associates."
"Throughout its history, the true strength of Capital Group lies
not in an individual but in the collective talents of all our
associates who are aligned behind our mission to deliver superior,
long-term investment results to our investors and clients. Our
management committee and our 7,600 associates look forward to
continuing our 84-year legacy of delivering on our commitments to
investors and the advisors who serve them."
BIOS BELOW
Timothy D. Armour is chairman of Capital
Group Companies, chairman and principal executive officer of
Capital Research and Management Company, Inc., part of Capital
Group, and chairman of the Capital Group Companies Management
Committee. He is also an equity portfolio manager. Tim has 32 years
of investment experience, all with Capital Group. Earlier in his
career, as an equity investment analyst at Capital, he covered
global telecommunications and U.S. service companies. Tim began his
career at Capital as a participant in The Associates Program. He
holds a bachelor's degree in economics from Middlebury College. Tim is based in Los
Angeles.
Robert W. Lovelace is president of Capital
Research and Management Company, Inc., part of Capital Group, and
serves on the Capital Group Companies Management Committee. He is
also an equity portfolio manager. Rob has 29 years of investment
experience, all with Capital Group. Earlier in his career, Rob was
an equity investment analyst at Capital covering global mining
& metals companies and companies domiciled in Mexico and the
Philippines. He holds a bachelor's degree in mineral
economics (geology) from Princeton University graduating summa cum laude and
Phi Beta Kappa. He also holds the Chartered Financial
Analyst® designation. Rob is based
in Los
Angeles.
Philip de Toledo is president of the
Capital Group Companies, Inc. He also serves on the Capital Group
Companies Management Committee. He has 28 years of investment
industry experience, all with Capital Group. Earlier in his career
at Capital, Phil was the principal financial officer. Prior to
joining Capital, he was a tax manager with Deloitte Haskins & Sells. He holds a bachelor's
degree in economics from the University of California, Los Angeles, graduating summa
cum laude. Phil is based in Los
Angeles.
Contact: Tom
Joyce, Media Relations, +1-213-615-0514