Northern Trust Corp. announced that Chairman Frederick H. (Rick) Waddell will retire from the company, effective Jan. 23 after 43 years of service – nine of them atop the board of directors.
Following Waddell’s departure, current President and CEO Michael O’Grady will assume the additional title of chairman.
Waddell was previously president and CEO before stepping down at the end of 2017, at which time O’Grady succeeded him. In addition to his current Northern Trust position, Waddell serves on the boards of AbbVie Inc., IBM Corp., Northwestern University, The Chicago Community Trust and The Art Institute of Chicago.
