MarketWatch – David Rocker, the managing partner of short-selling hedge fund Rocker Partners LP, has announced plans to retire in the middle of a growing debate on the influence of short sellers inthe stock market.
Three years ago, Rocker and colleague Marc Cohodes began to split responsibilities at the Millburn, N.J.-based firm as part of a management succession plan, according to a statement issued late Wednesday by Rubenstein Associates, a public-relations firm that represents Rocker Partners.
Cohodes, who has been with the firm since the 1980s, became head of research and chief portfolio manager, while Rocker assumed business responsibilities, such as working with present and prospective investors and overseeing finances and tax planning, Rubenstein said.
Rocker has now relinquished all portfolio-management responsibilities to Cohodes, who will lead the firm in future.
Rocker will stay on until January 2007 to help with the transition to new leadership, and the firm plans to hire additional individuals to assume his duties. The firm won’t change its investment approach, Rubenstein added.
