Waddell & Reed Financial, Inc. announced that Henry J. Herrmann, Chairman of the Board, will retire from the company’s Board of Directors on the date of the company’s annual meeting of stockholders in April 2018. The Board of Directors has appointed Thomas C. Godlasky, an independent director of the company since July 2010, to succeed Herrmann as Chairman of the Board in 2018. Herrmann retired as the company’s Chief Executive Officer in August 2016 after 45 years of service with the company, but remained non-executive Chairman of the Board. He has been Chairman of the Board since January 2010 and a director since March 1998.