Phoenix Cos. Inc., a Hartford, Conn., investment manager, announced Monday that it will promote James D. Wehr to president and chief executive to succeed Dona D. Young, who is retiring April 15.
Wehr, 51, is a senior executive vice president at Phoenix and its chief investment officer. He will also join the company's board of directors.
Thomas S. Johnson was named nonexecutive chairman. Young will step down from the board of directors and become a consultant to the company for one year after she retires.
Young, 55, joined Phoenix as an attorney in 1980 after a law internship in 1979. She worked for the company for 29 years, and chairman, president and CEO since 2003.
Wehr has worked at Phoenix since 1981. He has been chief investment officer since 2004. He was named executive vice president in 2005 and senior executive vice president in 2007. Johnson, 68, joined Phoenix's board in 2000. He is the retired chairman and CEO of GreenPoint Financial Corp.