T. ROWE PRICE ANNOUNCES CHIEF OPERATING OFFICER DEPARTURE AND LAUNCH OF NEW TECHNOLOGY, DATA, AND OPERATIONS FUNCTION

Rhea-AI Summary

T. Rowe Price (NASDAQ:TROW) announced on November 3, 2025 that Chief Operating Officer Kimberly Johnson, who served as COO since 2022, will leave the firm in December 2025. The firm is creating a new Technology, Data, and Operations function to integrate digital capabilities with operational execution. Ramon Richards, who became CTO in 2023, will lead the new function, join the firm's Management Committee, and report to Chair, CEO, and President Rob Sharps. The release frames the change as a strategic reorganization to scale technology, data, and operations across the business.

Positive

• New function created: Technology, Data, and Operations
• Ramon Richards to lead and join Management Committee
• Stronger alignment of technology and operations across the firm
• Clear reporting line: Richards reports to Rob Sharps

Negative

• COO Kimberly Johnson departure in December 2025 creates leadership transition
• Potential short-term disruption from executive role changes

News Market Reaction – TROW

-0.80%

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-0.80% News Effect

On the day this news was published, TROW declined 0.80%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

BALTIMORE, Nov. 3, 2025 /PRNewswire/ -- T. Rowe Price today announced that Kimberly Johnson, who has served as chief operating officer since 2022, will leave the firm in December. During her tenure, Johnson has been a transformational change leader, spearheading the modernization of the firm's technology and data infrastructure, as well as its operational processes to optimize workflow and automation for an enhanced client experience. She has strategically advanced technology capabilities and business collaboration, enabling digital innovation and driving an enterprise approach to AI adoption. In addition to delivering scalable solutions that foster technology-enabled growth, Johnson has been a critical driver of enterprise efficiency and productivity.

Building on this momentum, T. Rowe Price is also announcing the creation of a new Technology, Data, and Operations function, which reflects the firm's commitment to integrating digital capabilities with operational excellence. This function will be led by Ramon Richards, who joined the firm as chief technology officer (CTO) in 2023.

"Kimberly has been a transformative leader, driving meaningful change and strengthening the foundation of our operations for long-term success," said Rob Sharps, Chair, CEO and President of T. Rowe Price. "We are deeply grateful for her contributions and wish her the very best in her next chapter."

As Head of Technology, Data, and Operations, Richards brings deep, cross-functional expertise and a proven track record of delivering high-impact transformation projects. In this role, he will oversee enterprise operations, digital platforms, and data strategy, ensuring that technology and insights are tightly integrated into every facet of the business. Richards will join the firm's Management Committee and report to Sharps.

"By creating a function singly focused on technology, data, and operations, we are aligning our capabilities to adapt to changing industry dynamics," said Sharps. "As CTO, Ramon quickly demonstrated visionary leadership and has made significant strides in aligning the firm's technology road map with our business strategy. He is well positioned to lead this new organization and continue building the systems, tools, and teams that will enable deeper integration and accelerate execution."

"This transition marks a strategic evolution in how we organize for scale, innovation, and performance, with a strong focus on delivering operational excellence powered by technology and data-driven decision-making," said Richards. "I'm honored to step into this role and excited to continue building on the strong foundation that has been laid."

ABOUT T. ROWE PRICE

T. Rowe Price (NASDAQ-GS: TROW) is a leading global asset management firm, entrusted with managing $1.77 trillion in client assets as of September 30, 2025, about two-thirds of which are retirement-related. Renowned for over 85 years of investment excellence, retirement leadership, and independent proprietary research, the firm leverages its longstanding expertise to ask better questions that can drive better investment decisions. Built on a culture of integrity and prioritizing client interests, T. Rowe Price empowers millions of investors worldwide to thrive amidst evolving markets. Visit troweprice.com/newsroom for news and public policy commentary.

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SOURCE T. Rowe Price Group

FAQ

Who is leaving T. Rowe Price and when will Kimberly Johnson depart (TROW)?

Kimberly Johnson, who served as COO since 2022, will leave the firm in December 2025.

What is the new Technology, Data, and Operations function at T. Rowe Price (TROW)?

A firm-wide function to integrate digital platforms, data strategy, and enterprise operations.

Who will lead the new Technology, Data, and Operations function at T. Rowe Price (TROW)?

Ramon Richards, the firm's CTO since 2023, will lead the new function and join the Management Committee.

How does the leadership change affect reporting at T. Rowe Price (TROW)?

Ramon Richards will report directly to Chair, CEO, and President Rob Sharps.

Why is T. Rowe Price reorganizing technology and operations (TROW) now?

The firm says the change aligns capabilities to adapt to changing industry dynamics and accelerate execution.