David Booth will step down as co-CEO of Dimensional Fund Advisors [see profile] at the end of 2013 and and his co-CEO Eduardo Repetto will become the sole leader of the firm, according to a letter to clients, a copy of which was obtained by The MFWire.com. Booth will remain chairman.

Dimensional co-CEOs Eduardo Repetto and David Booth

In a letter dated December 9, Booth told clients that the company has put together a plan "to make Eduardo the CEO of Dimensional in three years."

"I will step down as Co-CEO at the end of 2013 and will continue as Chairman. Beyond 2013, my focus will shift to special projects and long-term opportunities," Booth wrote in a the letter posted on Dimensional's client Web site on December 13.

Repetto became co-CEO of the index-based mutual fund firm alongside Booth in January of this year. 

Edited by: Armie Margaret Lee


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE