key positions at the firm. Most notable of the changes was the departure of CFO Greg Frost, who along with former CEO Gary Black ran up Janus' debt load in 2007, using the proceeds to buy back shares at prices significantly higher than where they
investors have been selling their Janus funds. The change marks a new beginning for a firm that recently hired an outsider, Gary Black , as chief investment officer. Scheid was vice chairman of Schwab and president of the Schwab Retail Group from 2000
officer. Weil's appointment brings much-needed stability and certainty to the firm's corporate ranks. Former CEO Gary Black , who arrived from Goldman Sachs in 2004 and stepped down in July 2009, was a controversial leader. Black reined in
expected the appointment of someone with a few more gray hairs (with Weil, at 46, is not much older than ex-CEO Gary Black was when he took the helm at Janus). That said, Weil does come with a lot of operating experience, having served
new CEO and expects to have a new chief executive in place by early 2010. Given the impact (both good and bad) that Gary Black had on the firm, and the fact that there was so much contention about his efforts to sell the firm, we believe the
raise will have on its share count (which directly affects our per-share fair value estimate). The departure of CEO Gary Black , who joined Janus in April 2004, serving as president and chief investment officer before taking the top job at the
the bear market. As part of that effort, Janus hired Gary Black from Goldman Sachs as CIO in early 2004. Black later ..... take risk, but they are paying more attention to it. Gary Black hired Dan Scherman from MFS in Boston to monitor risk
case. We're maintaining our fair value estimate. On the basis of a discussion with Janus chief executive officer Gary Black , it appears that CFO David Martin is leaving of his own accord. Martin, who joined the company in 1995 under interim
Wanger groups have been less impressive, though. Most Improved We visited Janus in the summer and were impressed by CEO Gary Black 's continuing efforts to improve the quality of research there, and darned if the numbers don't back up that impression
and deals, and these are largely a thing of the past. We're not ready to give Janus a better grade just yet. CEO Gary Black was given an outsized bonus when he signed on and still is working under a very lucrative contract. And shareholders