On the internet, a CEO who recently quit his $68 billion investment firm to “sit at beach and do nothing” is giving netizens retirement goals. The CEO in question is Mr. Andrew Formica, the CEO of Jupiter Fund Management Pic, a London-based investment company.
Mr. Formica recently surprised the internet by resigning from his post at an age of 48. He will be leaving the chair vacant for Matthew Beesley, the Chief Investment Officer of the company. While most CEOs and fund managers quit their jobs to add value to another fund manager, or to start a new venture, Mr. Formica will be quitting his company to simply relax.
In his interview to Bloomberg, Mr. Formica said, “I just want to go sit at the beach and do nothing. I’m not thinking about anything else.” To make sure the investors and stakeholders are not thrown into a whirlwind, Mr. Formica will be working till June 30, 2023 to ensure better leadership transition in an otherwise challenging and complex situation.
Mr. Formica’s announcement came at an interesting time when India had its own resignation trend going viral on Twitter. On Twitter, netizens have been sharing honest and brief resignation letters, and leaving other netizens in splits.
The Facts of the Matter
For personnel belonging to white-collar workforce, resigning is nothing but a transition from one job to the next, at least till they have amassed enough financial and social security. Those who are employed in corporate jobs often day dream about quitting their jobs and settling at a quaint place and relax for the rest of their lives.
Recently, a CEO of an investment company announced his retirement and announced that he just wants to relax and “do nothing”.
“Want to go sit at a beach”
The CEO in question is Mr. Andrew Formica. The 48-year-old CEO of a London based investment company recently announced his resignation and spoke to Bloomberg about the development. In his interview, Mr. Formica said, “I just want to go sit at the beach and do nothing. I’m not thinking about anything else.”
In a few simple words, Mr. Formica made it a point to let us know that he will be living the dream of millions of people who want to do the same.
Mr. Formica is the CEO of Jupiter Fund Management Pic, a $68 billion investment firm
Will Ensure Seamless Transition: Andrew Formica
In a formal announcement, Mr. Formica announced that he will be serving for a while to make sure a seamless transition takes place.
“I am proud to have worked with such a fantastic and dedicated team as we navigated an extremely challenging period for the business and markets,” said Formica. “…I am pleased to see the board appoint Matthew Beesley as my successor, and I look forward to working with him to ensure a seamless transition,” his statement read.
Who is Andrew Formica?
Andrew Formica is the current CEO of Jupiter Fund Management Pic. Until 2018, he was the Co-CEO of the Janus Henderson Group. He was at the company from 1998 and held multiple senior roles. In 2004, he was part of the company’s executive committee.
Earlier in his career, he was an equity manager and analyst for Janus Henderson Group. Furthermore, he was also the deputy Chairman of board of Investment Association until September 2018. He also served as the non-director of Hammerson plc since November 2015.
With so many feathers in his cap, it’s understandable that Mr. Formica wants to take a long relaxing break.