, the force behind Brandywine Funds, is dotting the i's and crossing the t's on its succession plan. This week the firm passed the chief executive officer title to Bill D'Alonzo
. He takes the position from founder Foster Friess
Friess retains the title of chairman of Friess Associates and president of Brandywine Funds. He also is keeping a 34 percent stake in the firm, making him the largest individual shareholder.
The firm is an affiliate of Affiliated Managers Group (AMG). Friess has 10-year employment agreement with AMG and he is unable to sell the proceeds he received from AMG until 2011.
Day-to-day investment management decisions will continue to be overseen by Friess, D'Alonzo, John Ragard and Jon Fenn who are a part of an eight-member team.
The firm has also added John Dodd to take up client liaison responsibilities. He was most recently at Boston Company.
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