Vanguard announced that Mark Loughridge will retire from its board of directors and the board of trustees for each Vanguard fund effective December 31, 2026. Kenneth Jacobs has been elected by the boards to succeed Loughridge as nonexecutive Chairman, while John Murphy has been elected to serve as Lead Independent Director.
Jacobs joined Vanguard’s board in February 2026 and brings nearly four decades of experience in global financial services, including serving as Chairman and Chief Executive Officer of Lazard, Inc. from 2009 to 2023. He currently serves as a senior advisor for Lazard and as Vice Chair of the boards of trustees at the University of Chicago and the Brookings Institution.
Murphy has served on Vanguard’s board since 2024 and is President and Chief Financial Officer of The Coca-Cola Company, where he oversees the company’s global finance organization; he has held a range of leadership positions at Coca-Cola since joining in 1988. He will serve as Lead Independent Director during the period Jacobs is considered an “interested person” under the Investment Company Act of 1940. Loughridge has served on Vanguard’s board since 2012 and as nonexecutive Chairman since 2024, and is the retired Senior Vice President and Chief Financial Officer of IBM.
KEY QUOTES:
“Serving on Vanguard’s board has been a tremendous privilege. I am deeply grateful for the opportunity to work alongside such thoughtful and dedicated leaders in service of Vanguard’s mission, our investors, and our future. Ken and John are the right leaders for Vanguard’s board going forward.”
Mark Loughridge, Outgoing Chairman, Vanguard
“On behalf of Vanguard’s clients, crew, and fellow board members, I want to thank Mark for his extraordinary service and stewardship. For nearly 15 years, Mark has helped guide Vanguard through a period of significant growth and change while remaining steadfast in his commitment to our mission of giving investors the best chance for investment success.”
Salim Ramji, Chief Executive Officer, Vanguard
