Cathie Wood Buys Back Option That Had Threatened Control of Ark
- Fight with Resolute Investment Managers resolved with purchase
- Resolute will continue to distribute Ark’s ETF products
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The fight for control of Ark Investment Management is over after Chief Executive Officer Cathie Wood purchased the option that threatened her control.
Wood entered into an agreement with Resolute Investment Managers that allows her to remain as Ark’s majority shareholder, according to statement Monday. Ark, which has $43.6 billion in assets under management, will retain Resolute’s distribution services for its products.