Steven L. Scheid, chairman of Janus Capital Group’s board of directors is retiring at the end of his term in April 2012, according to a filing. He has been chairman since January 2004 and he also served as the chief executive officer of the company from April 2004 until the end of 2005.

In his stead, Glenn S. Schafer, formerly a director of the company and chairman of the audit committee of the Board since May 2008, will assume the role in April.

Janus today reported a drop in its AUM for Q4 2011 to $148.2 billion from $169.5 billion at December 31, 2010.

The company attributed the decrease in year-over-year assets to long-term net outflows of $12.2 billion and $9.1 billion of net market depreciation. 

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