RTTNews | Oct 22, 2020 08:00AM EDT

07:59 Thursday, October 22, 2020 (RTTNews.com) - Moody's Corp. (MCO) announced that Raymond McDaniel, Jr. will retire as President and Chief Executive Officer on December 31, 2020. The Board elected Robert Fauber, current Chief Operating Officer, as President and CEO, effective January 1, 2021.

McDaniel will assume the role of non-executive Chairman of the Board, effective January 1, 2021. Henry McKinnell, Jr., who has served as the Chairman since 2012, will remain on the Board as a Director.

Fauber has served as Chief Operating Officer since 2019. He served as President of Moody's Investors Service, Inc. from 2016 to 2019 and as Head of the MIS Global Commercial Group from 2013 to 2016. Prior to Moody's, he served in several roles at Citigroup.

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