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Friday, April 18, 2008|
American Beacon Buyer Steps Aside from Fund Board Post
The chairman of the board of American Beacon Funds resigned Tuesday, but he may not be gone for good.
"The mutual fund company needs to decide on the deal," Blicksilver told MFWire, noting that the deal is scheduled to close sometime over the summer and that, to avoid an appearance of a conflict of interest, Youngblood wanted to let go of "his role on the mutual fund board while the transaction is pending." (For more on Pharos, see "Who Bought American Beacon?", April 16, 2008.)
"The new board makeup hasn't been decided," Blicksilver added.
So perhaps Youngblood will be returning to chair American Beacon Funds after the deal closes.
Printed from: MFWire.com/story.asp?s=18011
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