Storied stock-picker Michael Price is handing off the day-to-day operations of his Franklin Mutual Series Funds at yearend, the fund said Tuesday.

Mr. Price, who is best known in banking circles as the shareholder activist who pressured Chase Manhattan Corp. and Chemical Bank Corp. to merge, will become chairman of Franklin Mutual on Nov. 1; Peter Langerman, now chief operating officer, will become chief executive.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.