The bond king heard rumblings of a palace coup.
The surprising exit came after
Some executives were pushing for him to be removed as chief investment officer, said two people briefed on the matter. There was concern about his management style and that his increasingly erratic behavior — he appeared at a conference to give a speech wearing sunglasses and wrote an investor letter that was largely an elegy to his cat — was becoming a distraction.
An ouster like that would have been a startling end of a long career for the 70-year-old investor, who broadened the appeal of bond funds to smaller individual investors and made them a staple of pension plans and retirement accounts.
But this year has been a rough one for
A little more than a week ago, seeing signs that his position was in peril,
One of those people
''I was wondering if they would have the courage or audacity to fire him,'' said
The resignation of
Share of Janus soared 43 percent on the news that
The timing of the departure of
''While we are grateful for everything Bill contributed to building our firm and delivering value to
''We will see a range of reactions,'' said
An official with one state pension fund said a
In recent years,
It was those years of performance, coupled with frequent appearances on television, that crowned
This is a more complete version of the story than the one that appeared in print.
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