Investors can get out penalty free because of Chris Shumway’s transition from CIO to CEO.Investors in Shumway Capital Partners have until December 3 to submit redemption requests or else tacitly approve the firm’s announced restructuring, in which founder and Tiger cub Chris Shumway will step back from his role as chief investment officer.
Shumway has handed his role to former equities head Tom Wilcox, who will transition to CIO effective January 1, 2011 and will be the funds’ sole portfolio manager. Shumway will continue to serve as the firm’s chief executive officer and chairman of the management committee. The restructuring was first reported by Bloomberg. The firm, which was founded by Shumway in