DST Systems names Stephen Hooley chairman

DST Systems Inc. has named Stephen Hooley, its president and chief executive officer, to the additional post of chairman.

The Kansas City-based data processing services company has operated for many years without a chairman for its board of directors that includes Hooley.

Lowell L. Bryan serves as the lead independent director and praised Hooley as having been “a tremendous liaison between management and the board,” in the company’s announcement.

The appointment combines the CEO and chairman posts under one person, a practice that has raised questions among some corporate governance experts. DST shareholders had voted in May on a proposal to keep the chairman and chief executive posts separate. The proposal was defeated.

This story was originally published August 4, 2014 at 4:58 PM with the headline "DST Systems names Stephen Hooley chairman."