Edward «Ned» Johnson will become chairman emeritus and continue to consult periodically with the Fidelity board. He is 86 years old and will be succeeded by a person very close to him.
Abigail P. «Abby» Johnson was named chairwoman of Fidelity Investments, according to an internal memo obtained by several media orgnistations.
She replaces her father, Edward «Ned» Johnson, who will become chairman emeritus. He will continue to consult periodically with his daughter and Fidelity’s board.
A Natural Progression
«This expansion of responsibilities is a natural progression of Abby’s 28-year career at Fidelity, in which she has taken on increasingly more challenging and complex roles,» Ned Johnson said in the memo.
Abby Johnson was named CEO of Fidelity Investments in October 2014 after her father retired from the role.
