Morningstar Chief Financial Officer Jason Dubinsky to Depart
Morningstar announced that CFO Jason Dubinsky will step down from his role at the end of 2024 to pursue other interests. During his seven-year tenure since 2017, the company's value tripled while revenue, operating profit, and cash flow more than doubled. Dubinsky will continue as CFO until December 31, 2024, and remain in a consulting role through June 30, 2025, to ensure a smooth transition. The company has initiated a succession process and reported Q3 earnings showing continued growth and margin expansion.
Morningstar ha annunciato che il CFO Jason Dubinsky si dimetterà dal suo ruolo alla fine del 2024 per perseguire altri interessi. Durante i suoi sette anni di incarico, a partire dal 2017, il valore dell'azienda è triplicato, mentre ricavi, utili operativi e flusso di cassa sono più che raddoppiati. Dubinsky continuerà nel ruolo di CFO fino al 31 dicembre 2024 e rimarrà in un ruolo di consulenza fino al 30 giugno 2025, per garantire una transizione fluida. L'azienda ha avviato un processo di successione e ha riportato gli utili del terzo trimestre mostrando una continua crescita e un'espansione dei margini.
Morningstar anunció que el CFO Jason Dubinsky dejará su puesto a finales de 2024 para perseguir otros intereses. Durante sus siete años de mandato desde 2017, el valor de la compañía se triplicó, mientras que los ingresos, las ganancias operativas y el flujo de caja más que se duplicaron. Dubinsky continuará como CFO hasta el 31 de diciembre de 2024 y permanecerá en un rol de consultoría hasta el 30 de junio de 2025, para asegurar una transición fluida. La compañía ha iniciado un proceso de sucesión y reportó las ganancias del tercer trimestre que muestran un crecimiento continuo y expansión de márgenes.
Morningstar는 CFO 제이슨 두빈스키가 2024년 말에 자신의 역할에서 물러나 다른 관심사를 추구할 것이라고 발표했습니다. 2017년부터 시작된 그의 7년 임기 동안 회사의 가치는 세 배로 증가했으며, 수익, 운영 이익 및 현금 흐름은 두 배 이상 증가했습니다. 두빈스키는 2024년 12월 31일까지 CFO로 계속 활동하며, 2025년 6월 30일까지는 원활한 전환을 보장하기 위해 자문 역할을 유지할 것입니다. 회사는 후계자 프로세스를 시작했으며, 지속적인 성장과 마진 확장을 보여주는 3분기 실적을 보고했습니다.
Morningstar a annoncé que le CFO Jason Dubinsky quittera son poste à la fin de 2024 pour poursuivre d'autres intérêts. Au cours de son mandat de sept ans depuis 2017, la valeur de l'entreprise a triplé, tandis que les revenus, le bénéfice d'exploitation et les flux de trésorerie ont plus que doublé. Dubinsky continuera en tant que CFO jusqu'au 31 décembre 2024 et restera dans un rôle de consultant jusqu'au 30 juin 2025, pour assurer une transition en douceur. L'entreprise a initié un processus de succession et a déclaré des résultats du troisième trimestre montrant une croissance continue et une expansion des marges.
Morningstar gab bekannt, dass CFO Jason Dubinsky Ende 2024 von seiner Rolle zurücktreten wird, um andere Interessen zu verfolgen. Während seiner siebenjährigen Amtszeit seit 2017 hat sich der Unternehmenswert verdreifacht, während Umsatz, Betriebsgewinn und Cashflow sich mehr als verdoppelt haben. Dubinsky wird bis zum 31. Dezember 2024 CFO bleiben und bis zum 30. Juni 2025 in einer beratenden Funktion tätig sein, um einen reibungslosen Übergang zu gewährleisten. Das Unternehmen hat einen Nachfolgeverfahrensprozess eingeleitet und die Einnahmen des dritten Quartals veröffentlicht, die ein kontinuierliches Wachstum und eine Margenausweitung zeigen.
- Company value tripled during CFO's tenure
- Revenue, operating profit, and cash flow more than doubled in seven years
- Q3 earnings show continued growth and margin expansion
- Structured transition plan with CFO staying as consultant until mid-2025
- Departure of key executive who led significant financial growth
Insights
The departure of Morningstar's CFO after a successful tenure marks a significant transition period. Under Dubinsky's leadership, the company achieved remarkable financial growth with revenue, operating profit and cash flow more than doubling, while the company's value tripled over seven years. The extended transition period through June 2025 and Q3 results showing continued growth and margin expansion suggest strong financial fundamentals and operational stability.
The lengthy transition timeline of 18 months (6 months as CFO and 6 months consulting) indicates a well-planned succession strategy, minimizing potential disruption to financial operations. This structured approach, combined with the company's recent positive earnings results, should help maintain investor confidence during the leadership change.
Chief Executive Officer Kunal Kapoor said, “Jason has been an exemplary CFO and leader. He lives Morningstar's values every day and has created significant value for shareholders during his seven-plus years here. Jason has helped position the company for continued durable growth and, on behalf of the Morningstar team, I want to thank him for his leadership, stewardship, and friendship.”
Dubinsky joined Morningstar in 2017 and has been the firm’s chief financial officer for over seven years—a period in which the company’s value tripled and its revenue, operating profit, and cash flow have more than doubled. He leads a strong global finance function and has been instrumental in driving the company’s growth, helping to strengthen and diversify Morningstar's financial and business profile.
“I’ve been privileged to be part of Morningstar’s 40-year history and to have had the opportunity to work across our teams to grow the business in this chapter of the company,” Dubinsky said. “It’s a special place with a great culture, and I am proud of what we accomplished together. While this is a difficult decision for me, I will leave confident in Morningstar’s bright future.”
Morningstar has initiated a succession process. Dubinsky will continue to serve as chief financial officer until Dec. 31, 2024, and will be engaged in a consulting role to support a smooth transition through June 30, 2025.
The company reported third-quarter earnings results today, reflecting continued growth and margin expansion in the quarter and ongoing cost management discipline.
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment insights in
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements as that term is used in the Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations about future events or future financial performance. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, and often contain words such as “consider,” “future,” “maintain,” “may,” “expect,” “potential,” “anticipate,” “believe,” “continue,” “will,” or the negative thereof, and similar expressions. These statements involve known and unknown risks and uncertainties that may cause the events we discuss not to occur or to differ significantly from what we expect. A more complete description of these risks and uncertainties, among others, can be found in our filings with the Securities and Exchange Commission (SEC), including our most recent Reports on Forms 10-K and 10-Q. If any of these risks and uncertainties materialize, our actual future results and other future events may vary significantly from what we expect. We do not undertake to update our forward-looking statements as a result of new information, future events or otherwise, except as may be required by law. You are, however, advised to review any further disclosures we make on related subjects, and about new or additional risks, uncertainties, and assumptions in our filings with the SEC on Forms 10-K, 10-Q, and 8-K.
©2024 Morningstar, Inc. All Rights Reserved.
MORN-C
View source version on businesswire.com: https://www.businesswire.com/news/home/20241023159359/en/
Investor Relations Contact:
Sarah Bush, investors@morningstar.com
Media Relations Contact:
Stephanie Lerdall, newsroom@morningstar.com
Source: Morningstar, Inc.
FAQ
When is Morningstar (MORN) CFO Jason Dubinsky leaving the company?
What financial growth did Morningstar (MORN) achieve during Jason Dubinsky's tenure?
How did Morningstar (MORN) perform in Q3 2024?
