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Moody's Corporation Appoints Vincent Forlenza as Chairman of the Board
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
Moody's Corporation (NYSE:MCO) announced the appointment of Vincent Forlenza as Chairman of its Board of Directors, effective April 18, 2023. Forlenza, former Chairman and CEO of Becton, Dickinson and Company, has been with Moody's Board since 2018 and will succeed Raymond W. McDaniel, Jr., who is retiring. Forlenza expressed his excitement to lead at a pivotal time for Moody's, emphasizing the company's strong position in the risk landscape. Rob Fauber, CEO of Moody's, highlighted Forlenza's extensive experience as beneficial for future growth.
Positive
Vincent Forlenza's leadership is expected to bring fresh perspectives to Moody's.
Forlenza's extensive experience may strengthen Moody's strategic direction.
Negative
Concerns exist regarding continuity in leadership following McDaniel's retirement.
NEW YORK--(BUSINESS WIRE)--
Moody's Corporation (NYSE:MCO) announced today that Vincent Forlenza will be appointed Chairman of its Board of Directors on April 18, 2023. Mr. Forlenza, former Chairman and CEO of Becton, Dickinson and Company, joined Moody's Board of Directors in 2018 and currently serves as Lead Independent Director. He will succeed Raymond W. McDaniel, Jr., who will retire from Moody’s board, having served as Chairman since January 2021 and as Moody's Chief Executive Officer from 2005 to 2020.
“It is an honor to take on this role at such an exciting time at Moody’s,” said Mr. Forlenza. “Since joining the board in 2018, I have watched Moody’s help customers navigate an unprecedented and changing risk landscape by making smart investments and strategically expanding its offerings. As a result, Moody’s finds itself in a position of strength. I look forward to working with my fellow directors to capitalize on this momentum and further expand the value we provide to our customers, shareholders and employees.”
Rob Fauber, President and CEO of Moody's Corporation, remarked, “Vince’s experience leading and evolving a large global business, coupled with his extensive board service, provides him unique perspectives on areas vital to Moody’s future growth. We are extremely fortunate to benefit from his broad expertise as we continue advancing our strategy to be the leading provider of integrated perspectives on risk.”
Mr. Forlenza, 69, served as a director of Becton, Dickinson and Company (BD), a global medical technology company, from 2011 to April 2021 and as the Chairman of its board from 2012 to April 2021. He was BD’s Chief Executive Officer from 2011 to January 2020 and President from 2009 to April 2017. Mr. Forlenza is chairman of the Board of Trustees of Lehigh University and serves as a director to both MARAbio Systems, Inc. and MNHI. He was previously the Chairman of AdvaMed, the medical device industry association and the Valley Hospital System in New Jersey.
Mr. Fauber thanked Mr. McDaniel for his decades of service to Moody’s and its stakeholders:
“It is impossible to put into words the indelible mark Ray has left on Moody's. For nearly 40 years, Ray dedicated himself to growing and enhancing Moody’s value, and our strong footing today is a testament to his immeasurable contributions. On behalf of the entire company, I want to thank Ray for his unwavering commitment and unyielding passion in building Moody's into the dynamic business it is today and a place that people want to come and stay."
ABOUT MOODY’S CORPORATION
Moody’s (NYSE:MCO) is a global risk assessment firm that empowers organizations to make better decisions. Its data, analytical solutions and insights help decision-makers identify opportunities and manage the risks of doing business with others. We believe that greater transparency, more informed decisions, and fair access to information open the door to shared progress. With approximately 14,000 employees in more than 40 countries, Moody’s combines international presence with local expertise and over a century of experience in financial markets. Learn more at moodys.com/about.
