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Mark E. Stoeckle, CEO of Adams Express Co. and Petroleum & Resources Corp., answers questions from The Baltimore Sun.

Legg Mason Inc. said it agreed to pay $80 million for European fund manager Fauchier Partners, plus as much as an additional $56 million in the next four years if certain financial targets are achieved.

Legg Mason's board is meeting to discuss and possibly decide on a CEO among four candidates. Interim CEO Joseph Sullivan is believed to have the inside track because of support from Legg's affiliate investment firms.

Mark E. Stoeckle has been named CEO for Adams Express Co. and Petroleum & Resources Corp., replacing retiring Douglas G. Ober, who had announced last year his intention to step down.