Mark C. Lapman, chief executive officer and chairman of the board at Independence Investments, a Boston-based investment management firm, plans to retire after more than 26 years with the company.

Independence has engaged executive search firm Spencer Stuart to assist in finding Lapman’s replacement. As part of the management transition at Independence, Jay C. Leu, an Independence senior vice president and senior portfolio manager, was chosen to succeed Lapman as chairman of the investment committee, effectively immediately.

Lapman joined Independence as an analyst at the firm's inception in 1982. He was named CEO in 2000 and led the company through its ownership by John Hancock Financial Services and subsequently Hancock's new owner Manulife Financial, and the sale of Independence to Chicago-based Convergent Capital in 2006.

http://www.independence.com