How good a job is Fidelity doing at keeping Abigail Johnson's
succession to its top job in the shadows? Well, let's say that Abby got a promotion and the world missed it.
On Friday Reuters reported
that a month after Ned Johnson
handed over the chairmanship of Fidelity's stock and bond funds to James Curvey, Abby also received a title that had been held by her father: chairman of Fidelity Management & Research Co.
If it wasn't for someone finally noticing the title change in SEC filings for Fidelity, the industry would likely still be in the dark about the change.
Abby remains as president of Fidelity Personal and Workplace Investing
and vice chairman and director of FMR LLC[see profile]
Dow Jones' Marketwatch reports
that Fidelity spokesman Vin Loporchio downplayed the move as "just corporate formalities."
He told the Dow Jones pub that the firm had a succession plan in place but declined to discuss specifically whether Johnson is included.
Loporchio's boss Anne Crowley emailed Reuters
that "Abby has for many years served as director of FMR LLC, the parent company, and also as vice chairman of the board of directors for the entire firm." Adding that, "These are much higher profile roles at the parent company."
There is no reason to doubt crowley. The new role is likely just one more stepping stone in the succession plan at the Boston Behemoth.
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