Don Phillips, a 27-year Morningstar Inc. veteran, will be stepping down as head of global research effective Jan. 1.
He will be succeeded by Haywood Kelly, the current head of equity, credit and structured-credit research at the Chicago-based investment research firm.
Mr. Phillips will remain with the company as a managing director focused on new research initiatives and a member of the board of directors, the company said in a news release.
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“I've had a wonderfully rewarding career and believe passionately in Morningstar's mission of helping investors,” Mr. Phillips said in the release. “I've often said that, to me, Morningstar is a cause as well as a company. I told [founder and chief executive] Joe [Mansueto] that I'd like to step back, but I still want to contribute to Morningstar's success.” 
Don Phillips: Calls time at Morningstar "wonderfully rewarding."
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