Citizens Advisers, the investment advisor to the socially responsible Citizens Funds, has created a five-member operating committee to replace outgoing President and CEO John Shields, whose three-year contract has ended, the firm announced today.

Citizens did not offer Shields another contract, according to Valentina Dingle, vice president of marketing for the firm. Board Chair and Citizens Founder Sophia Collier will take on more responsibility now, and the board wanted to create the new operating structure, which will be permanent, instead of replacing Shields, Dingle said.

The operating committee will be made up of Dingle as well as Chief Operating Oficer Robert Gunville, Chief Investment Officer Jeffrey Schappe, Chief Administrative Officer John O’Brien and Vice President of Fund Administration and Investment Operations Sean Driscoll.

Dingle said that Shields, who was not available for comment, has not yet announced his future plans. "I enjoyed working at Citizens and think the company has a great future," Shields said in a statement. "There is a strong team in place so I leave with a sense of confidence."

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.