DOWNERS GROVE, IL - Invesco DB US Dollar Index Trust and its series funds, Invesco DB US Dollar Index Bullish Fund and Invesco DB US Dollar Index Bearish Fund, have announced significant changes to their management structure, according to a recent SEC filing.
The funds, which trade on the NYSE Arca under the symbols UUP and UDN, respectively, will see a shift in their board of managers as John Zerr plans to retire. Mr. Zerr, a key figure in the managing owner Invesco Capital Management LLC, will step down from his positions with Invesco Ltd. and its affiliates, effective January 1, 2025.
In anticipation of his retirement, Mr. Zerr expressed his desire to leave the board as soon as possible. Following this announcement, Invesco Group Services Inc., the sole member of the Managing Owner, appointed Melanie Ringold to the board, effective July 31, 2024.
Ms. Ringold, 48, who joined the board in July 2024, has been serving as Head of Legal for the Americas at Invesco Ltd. since January 2023. She brings a wealth of experience to the role, having previously been Assistant General Counsel from March 2011 until January 2023. Ms. Ringold holds a JD (NASDAQ:JD) from the University of Houston Law Center and a BA in political science from the University of Michigan.
This transition comes at a time when the financial industry is closely monitoring shifts in management and governance structures. The filing, signed by Adam Henkel, Secretary of Invesco Capital Management LLC, confirms the changes and emphasizes the continuity of leadership within the funds.
Investors and stakeholders are advised to note these changes as they may influence the funds' strategies and operations moving forward. The information is based on the latest 8-K filing with the Securities and Exchange Commission.
In other recent news, Invesco Ltd. has undergone significant changes within its management structure. John Zerr, a key executive, has announced his retirement from Invesco and its affiliates, slated for January 1, 2025. Concurrently, Zerr plans to step down from the board of Invesco Capital Management LLC, the managing owner of Invesco DB US Dollar Index Trust and its series funds.
In response to these developments, Melanie Ringold has been appointed to the board, effective July 31, 2024. Ringold, who has been with Invesco since 2011, currently serves as the Head of Legal for the Americas and brings extensive experience to her new role.
These recent changes highlight Invesco's commitment to succession planning and governance, ensuring a smooth transition in leadership. The information regarding these shifts was confirmed by Adam Henkel, Secretary of Invesco Capital Management LLC, in a report filed with the U.S. Securities and Exchange Commission.
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