Dodge & Cox reveals CEO Dana Emery to step down

Mutual fund giant Dodge & Cox is undergoing a big change in leadership this year as its chief executive steps down as part of a planned transition.

As part of its annual January update on leadership, the firm announced Friday that its Chair and CEO Dana Emery will retire on December 31, after more than 40 years at the investment management firm.

Emery, who became CEO in 2013 and chair in 2022, has co-led the company for over a decade and spent more than 25 years as director of fixed income.

In a statement, the firm highlighted how she played key role in expanding the firm’s global research, investment strategies, and client service capabilities.

Emery will continue to serve in her leadership roles and as chair of the Dodge & Cox Funds Board throughout 2025, gradually transitioning her responsibilities. 

Succeeding Emery as CEO and chair of the Dodge & Cox Funds Board will be Roger Kuo, who currently serves as president of the firm. David Hoeft, the company’s chief investment officer, will take on the role of chair of the firm. Both leaders have extensive tenures with Dodge & Cox, with Kuo joining in 1998 and Hoeft in 1993.

The firm highlighted that their appointments mark the sixth generation of leadership since its founding in 1930.

Before Emery's retirement at the end of the year, Dodge & Cox will also be seeing its COO Bill Strickland step down in June, a move that the firm announced in July last year. Succeeding him as Hallie Marshall, who assumed the role of associate COO as Strickland's departure was announced.

The firm also announced a raft of changes to its various investment committees:

• US equity: Karol Marcin resigned on December 31 after a 24-year career at Dodge & Cox.
• Global equity: Marcin also stepped down from this committee upon his departure.
• International equity: David Hoeft is joining the committee on January 15, replacing outgoing member Mario DiPrisco, who retired on December 31.
• Emerging markets: Phil Barret will join the committee on January 15, stepping in for DiPrisco, who also stepped down from this group.
• US fixed income: Jose Ursua joined the committee on January 15.