Hennessy Advisors has snagged an industry heavyweight to be the president of the Hennessy Funds. Kevin Rowell has joined the company from Pioneer funds where he was president of the Pioneer Funds Distributor.

Rowell left Pioneer in May of 2007 and was replaced by Joseph D. Kringdon, formerly managing director of Putnam Investments. Kringdon's appointment as EVP in charge of U.S. sales was announced Monday.

At Hennessy, Rowell will be in charge of building new sales relationships and distribution channels for the firm's mutual funds.

"We believe Kevin's expertise in building distribution channels and managing key relationships will help us to significantly grow distribution of our funds and our assets under management," Neil Hennessy, president and CEO of Hennessy Advisors said in a release.

"We never had someone solely in charge of distribution before, it was the missing piece of the puzzle," Hennessy told the MFWire.

As for whether there are plans to hire more people for the distribution team, Hennessy says that is entirely up to Rowell.

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Company Press Release

NOVATO, Calif., June 4 /PRNewswire-FirstCall/ -- Hennessy Advisors, Inc. (OTC Bulletin Board: HNNA - News) Hennessy Advisors, Inc., investment manager of the Hennessy Funds, today announced the appointment of Kevin A. Rowell as President of Hennessy Funds. In this newly created role, Rowell will be primarily responsible for developing distribution relationships and sales channels for the firm's family of mutual funds. Rowell has over 20 years experience in sales and distribution, most recently serving as president of Pioneer Funds Distributor.

"We are absolutely thrilled to have Kevin join our team," said Neil Hennessy, Chairman, President and CEO of Hennessy Advisors, Inc. "We believe Kevin's expertise in building distribution channels and managing key relationships will help us to significantly grow distribution of our funds and our assets under management," he added.

Hennessy Advisors, Inc., located in Novato, CA, is a publicly traded investment advisor to the Hennessy family of no-load mutual funds. Hennessy Advisors, Inc. is committed to their time-tested, quantitative stock selection formulas and disciplined money management approach.

Supplemental Information

Nothing in this section shall be considered a solicitation to buy or an offer to sell a security to any person in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction.  

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