George Putnam will be retiring as chairman of the trustees of Putnam Investments of Boston in June, according to a firm spokesperson.
Putnam, who has been chairman since 1973, will stay on as chairman emeritus, said Matt Keenan, the spokesperson. Putnam is the son of George Putnam, who founded the firm in 1937, Keenan said.
John Hill, vice chairman of the trustees, will succeed Putnam as chairman, and George Putnam III, Putnam's son, will become president of the trustees, Keenan said.
Putnam's retirement was disclosed in semi-annual reports the firm filed with the SEC earlier this month for the Putnam Ohio Tax Exempt Income Fund and the Florida Tax Exempt Income Fund, Keenan said.