Morningstar founder stepping down as CEO

The man who launched Morningstar Inc. from his Chicago apartment in 1984 is resigning as CEO.

In January, founder Joe Mansueto will take the executive chairman position at the mutual fund data company. He'll be succeeded by Kunal Kapoor, the firm's president.

Mansueto, 60, said he wants more “time to read and think and reflect.” He'll continue to work on the $3.6 billion firm's strategy and lead its board of directors.

Read more from The Wall Street Journal.