Glenn Schafer has been named the new chairman of Janus Capital Group Inc.
He will replace Steven Scheid, who set to retire at the end of April.
Schafer has been a director of the Denver-based money manager since 2007.
Janus has about $148 billion of assets under management.
Schafer is a former vice chairman of Newport Beach-based Pacific Life Insurance Co., where he spent 19 years as chief financial officer and later as president.
Schafer also served as a board member of Brea-based medical testing instruments maker Beckman Coulter Inc. from 2002 to last year. He was appointed chairman in 2010, when then-Chief Executive Scott Garrett stepped down.
Schafer oversaw Beckman’s June, 2011, sale to Washington, D.C.-based Danaher Corp. for $6.8 billion.
Schafer also is on the board of directors of Foothill Ranch-based Skilled Healthcare Group Inc.
Scheid has been on the Janus board of directors since 2002, and chairman since 2004.
He served as chief executive of the company from 2004 to 2006.
Scheid leaves behind a company that, during his eight-year tenure as chairman, has seen conflicts among fund managers over company leadership and a drop in Janus stock price by half, according Bloomberg Businessweek.
Janus stocks rose 5.4% following the announcement of the new chairman-to-be, the biggest increase since the December announcement of Scheid’s retirement plans.
