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Rating:Franklin President Takes Leave Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, October 03, 2002

Franklin President Takes Leave

by: Sean Hanna, Editor in Chief

A Johnson family scion is taking a leave of absence from his post at Franklin Resources after running into troubles with the law over the weekend. The firm made the anouncement about Charles "Chuck" Ender Johnson, co-president and director of the Palo Alto-based fund firm, yesterday afternoon.

Johnson is the son of Franklin CEO Charles B. Johnson.

Martin Flanagan and Gregory E. Johnson, both of whom are members of the office of the president, will take over Chuck Johnson's duties on an interim basis.

Johnson faces numerous felony charges that carry up to 10 years in prison. San Mateo County prosecutor Sheryl Wolcott said that Johnson attacked his wife twice over the weekend. In one attack, he allegedly smashed her face into a stove, breaking her orbital socket and causing her to be hospitalized on Sunday night, reported the San Jose Mercury News.

She has since been released from the Peninsula Medical Center where Johnson had brought her Sunday.

Johnson was arrested twice by police. The first time was after hospital workers called local police after seeing the extent of her injuries on Sunday. Johnson was then released on $25,000 bail with the condition of an emergency restraining order.

The prosecutor said that Johnson then repeatedly called his wife at home. She responded by requesting a police guard at the family house. Johnson was then arrested a second time at 5:30 AM the next morning after arriving in the driveway of his home in violation of the restraining order.

Johnson then paid the second $150,000 bail in cash.

Prosecutor Wolcott has since brought charges in another alleged attack that took place roughly six months ago, according to his wife. One of three his children, who are minors, is a witness to that attack, according to the prosecutor.

Johnson has pleaded not guilty to all of the charges, and he has been released on $150,000 bail. His next court appearance will likely be on November 4 for a preliminary hearing in the South San Francisco branch of the San Mateo County Superior Court.

"We consider these domestic dispute charges to be very serious, however, this is a matter that must be resolved between Chuck Johnson, his family and the authorities," read a release from Franklin Resources. "This matter is unrelated to the business of the company or its mutual funds and client investment portfolios. We have every hope that Mr. Johnson will be able to work through this situation with his family."  

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