Morningstar Appoints Internal Veteran Michael Holt as Chief Financial Officer
Morningstar, Inc. announced the appointment of Michael Holt, a veteran with approximately 16 years at the company, as Chief Financial Officer, effective January 1, 2025, succeeding Jason Dubinsky, who is departing. Holt previously served as Chief Strategy Officer and also held the role of President of the Research and Investment division.
Briefing Overview
- Morningstar, headquartered in Chicago, announced in December 2024 that it has appointed Michael Holt as Chief Financial Officer, effective January 1, 2025, succeeding the outgoing Jason Dubinsky. Holt, who has been with the investment research and financial services company for approximately 16 years, previously served as Chief Strategy Officer and, since last year, also as President of the Research Investment Division, leading a team of about 400 people responsible for Morningstar's analysis and ratings work.
- Morningstar CEO Kunal Kapoor said in a press release that Holt is a proven strategist and leader of high-performing teams. Kapoor stated: "Mike has a strong focus on value creation and can translate strategy directly into results and financial accountability. His extensive operational knowledge of our company, along with his ability to collaborate across businesses to support sustained and steady growth, makes him the right choice for our next Chief Financial Officer."
Deep Insights
Morningstar chose an insider to take over the financial leadership role, less than two months after the company announced Dubinsky's departure from the position. Dubinsky, who held the role for seven years, will leave to pursue other opportunities.
Holt, 45, joined Morningstar in 2008 as an equity analyst and has since risen through several senior positions, including leading the global equity research team from 2014 to 2018. According to his LinkedIn profile and securities filings, he holds a bachelor's degree in business from Indiana University, an MBA from the University of Chicago Booth School of Business, and holds the Chartered Financial Analyst (CFA) designation.
According to securities filings, Holt's compensation will include an annual base salary of $450,000, with eligibility for an annual cash bonus targeted at 100% of the base salary. In addition, he will receive an annual restricted stock unit grant with a target value of $275,000, as well as an annual market stock unit grant with a target value of $825,000.