Campbell’s Cleland steps down

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Bruce Cleland, president and chief executive of the $12.3 billion Campbell & Co., has decided to retire due to health-related issues.

Cleland, who is battling oral cancer, has handed the reins of the Towson, Md., managed futures firm to Terri Becks, chief financial officer and 16-year Campbell veteran.

Cleland will continue to serve as vice chairman of the board of directors and expects to become an advisor to the board’s executive committee when his health improves, according to a recent investor letter.

This year has proved challenging for Campbell’s main strategies as major market sectors experienced increased volatility accompanied