Submitted
By Joel Press (pictured), Press Management – It’s a new year and for some, a time to explore new options. Earlier this month, James Simons, the legendary founder and chairman of Renaissance Technologies LLC, announced he was stepping down from the firm and passing on the baton to Peter Brown, who has served as CEO since 2017.
Arriving at the right time to step back as the founder of any hedge fund is never easy, and when it comes to thinking about succession planning, there is no right or wrong answer or approach. It is a personal decision, and depends on what is right for the individual at that time. Having worked on more than 600 succession plans over my career, a common thread running through each and every one of them is that they require a lot of work, and a lot of soul searching. We will be discussing voluntary departures from day to day activities in this column. Unfortunately there have been circumstances, due to illness, disability or death, where these