Brandes Investment Partners LP's founder and chairman, Charles Brandes, is retiring from the company, effective immediately.

The announcement of Brandes' departure follows an earlier report from that he would take a leave of absence in connection with his divorce proceedings.

A previous report by Pensions & Investments that Brandes would leave temporarily stated that Glenn Carlson would be interim chairman, while CEO Brent Woods would take up Brandes' position on the investment oversight committee.