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Thursday, November 21, 2019

Greg Johnson Passes the Reins

Reported by Neil Anderson, Managing Editor

Greg Johnson is stepping aside but not out as he passes the reins to a familiar leader who has spent more than three decades at the firm. The move will keep leadership of the giant asset management firm in the hands of its founding family.

Jennifer M. Johnson
Franklin Resources, Inc.
President, Chief Operating Officer
This morning Johnson, chairman and CEO of Franklin Resources [profile], confirms that he will pass the CEO hat to president and chief operating officer Jenny Johnson. The handoff is scheduled for February 11, 2020, at the company's 2020 annual meeting of stockholders, and Greg Johnson will stay on afterwards as executive chairman of the San Mateo, California-based, publicly traded mutual fund firm (which is better known by its dba, Franklin Templeton).

Gregory Eugene Johnson
Franklin Resources, Inc.
Chairman, CEO
Greg Johnson describes the upcoming succession as "the natural evolution" of Jenny Johnson's role.

"Jenny has significant experience leading and working with all parts of our business and brings extensive knowledge of the global investment management industry," Greg Johnson states. "She has a thoughtful perspective and innovative spirit that few can match."

Jenny Johnson, for her part, lauds Franklin's "extremely talented leadership team."

"I am excited by the possibilities ahead for both Franklin Templeton and our industry," Jenny Johnson states. "We are well positioned to seize the right opportunities to grow our business and to continue to deliver strong investment results for our shareholders and clients around the world."

Jenny Johnson, an alumna of UC Davis, joined Franklin in 1988. Since then, she has held a number of roles, including chief information officer. In 2010, she rose to executive vice president and chief operating officer, and in 2015 she rose to co-president. She has overseen strategic moves that include acquisitions, Franklin's ETF push, and fintech incubation.

Greg Johnson, an alumnus of Washington and Lee University, has also worked with the company for more than 30 years. (Jenny is his sister, and their grandfather founded the firm in 1947.) He rose to co-president in 1999, then to co-CEO in 2004, and has served as Franklin's sole CEO since 2005.

As of October 31, 2019, the Franklin team had more than $693 billion in AUM. The multinational firm has a presence in more than 30 countries, and its team includes more than 600 investment professionals. 

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