Michael E. Stack, portfolio manager for Vanguard Wellington Fund, to retire

TheShadow

https://www.sec.gov/Archives/edgar/data/105563/000168386321001656/f8307d1.htm

497 1 f8307d1.htm VANGUARD WELLINGTON FUND 497
 
Vanguard Wellington™ Fund
Supplement Dated March 29, 2021, to the Prospectus and Summary Prospectus Dated March 29, 2021
Important Change to Vanguard Wellington Fund
 
Effective at the close of business on June 30, 2021, Michael E. Stack will retire from Wellington Management Company LLP and will no longer serve as a portfolio manager for Vanguard Wellington Fund.

Loren L. Moran and Daniel J. Pozen, who currently serve as portfolio managers with Mr. Stack, will remain as portfolio managers of the Fund upon Mr. Stack’s retirement. The Fund’s investment objective, strategies, and policies will remain unchanged.

© 2021 The Vanguard Group, Inc. All rights reserved.

Vanguard Marketing Corporation, Distributor.PS 21G 032021

 
Vanguard Wellington™ Fund
 
Supplement Dated March 29, 2021, to the Statement of Additional Information Dated March 29, 2021
Important Change to Vanguard Wellington Fund
Effective at the close of business on June 30, 2021, Michael E. Stack will retire from Wellington Management Company LLP and will no longer serve as a portfolio manager for Vanguard Wellington Fund.

Loren L. Moran and Daniel J. Pozen, who currently serve as portfolio managers with Mr. Stack, will remain as portfolio managers of the Fund upon Mr. Stack’s retirement. The Fund's investment objective, strategies, and policies will remain unchanged.

© 2021 The Vanguard Group, Inc. All rights reserved.

Vanguard Marketing Corporation, Distributor.
SAI 21H 032021

Sven

Is there anything to concern with the current succession plan?

Loren L. Moran, CFA, Senior Managing Director and Fixed Income Portfolio Manager of Wellington Management. She has co-managed the fixed income portion of the Fund since 2017.

Daniel J. Pozen, Senior Managing Director and Equity Portfolio Manager of Wellington Management. He has managed the stock portion of the Fund since 2019.

Michael E. Stack, CFA, Senior Managing Director and Fixed Income Portfolio Manager of Wellington Management. He has co-managed the fixed income portion of the Fund since 2017.

TheShadow

I would say "no" as this has been in the making for a little while as this should not be a surprise.

Sven

Thank you.

Observant1

I wouldn't be too concerned.
As @TheShadow mentioned, Mr. Stack's retirement has been planned for a while.
Wellington has a deep bench of managers/analysts.