State Street Unveils Succession Plan

State Street Corporation today announced its leadership succession plan.

According to a company announcement, Chairman and CEO Ronald E. Logue, age 64, will retire from State Street on March 1, 2010, after almost two decades with the company and then continue to serve as non-executive chairman of State Street’s board of directors for a transition period until January 1, 2011.

Upon Logue’s retirement on March 1, 2010, current State Street president and chief operating officer, Jay Hooley, age 52, will be promoted to CEO.

State Street also announced today that Hooley has been elected to its board of directors, effective immediately.