Manning & Napier, Inc. announced that its Board of Directors accepted the resignation of Patrick Cunningham, Chief Executive Officer and Director. His retirement date is effective April 18, 2016, though he will be staying on in an advisory capacity for three months. William Manning, the Company's co-founder, Chairman of the Board and chief architect of the firm's investment processes, will assume the title of Chief Executive Officer of Manning & Napier.

A newly named Operating Committee consisting of Manning & Napier's current senior managers will report to Mr. Manning and hold responsibility for the functions of the office of the CEO.