Morningstar CFO Taking New Role

Martha Dustin Boudos, the chief financial officer at Morningstar, (MORN Quote), will be taking on a new, as-yet-to-be-determined role in the independent research company.

A search for a new chief financial officer is under way. Boudos will remain chief financial officer until the company names a replacement and after that will assist as needed to ensure a smooth transition, Morningstar says.

Boudos, 40, has served as Morningstar's CFO since 2001. She led its open-auction IPO two years ago and was instrumental in its four recent acquisitions, the company says in a press release.

Chairman and Chief Executive Joe Mansueto says the executive wants to spend more time with her family. Morningstar is still determining what her responsibilities will be.