Vanguard Group’s CEO says he will be taking a leave of absence as CEO

The CEO of Vanguard Group, the world’s largest asset manager, is leaving his post after more than a year as CEO. 

Carl Icahn announced on Tuesday that he will not be taking the reins of the company he founded in 1972 and has not commented on his future.

Icahn said he has taken “full advantage” of his opportunity to lead the company, which he said was “at the pinnacle of its life”.

“While I have spent a lot of time with my family and friends over the past year, I have made the decision that the time is right for me to focus on my family, my life and my company,” Icahn said in a statement.

Icillans decision comes as investors increasingly question the long-term viability of Vanguard.

The company’s shares have dropped over the last year, from a high of $28 in early January to a low of $8.60 this week.

The stock closed down about 1.5% on Tuesday.

The company has struggled to stay afloat as the financial crisis has intensified the effects of the financial crash.

The market is already seeing an uptick in interest in Vanguard, which is expected to report results on Wednesday.

Shares of other large companies including Apple and Google, both major tech companies, have been trading higher.

Illis decision comes after the Vanguard board met on Monday, and his replacement will be confirmed in the coming days.

Vanguard Group shares were trading at $34.15 in late morning trading.

“Vanguard has made great progress in many areas and is on the path to profitability and long-range growth,” the company said in the statement.

The company said Icahn’s departure will be effective in 30 days.

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