Gregory Johnson, chief executive of Franklin Resources Inc.[see profile], is taking on a new gig. The Franklin bigwig has been appointed chairman to the Investment Company Institute's board.

As chairman, Johnson will preside over the board of governors, the group's governing body, which is responsible for setting the institute's policies and overseeing its activities. Johnson's new charge include other mutual fund luminaries such as James Boyle, president of John Hancock Financial Services Inc.[see profile]; Catherine Newell, general counsel of Dimensional Fund Advisors[see profile]; and Mary Ann Tynan, independent director at Oppenheimer Funds Inc.[see profile]. The three were also recently appointed to their ICI positions, which will expire in September 2014.

The Wall Street Journal also covered the appointments.

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New Members Elected to Board of Investment Company Institute

Washington, DC, October 6, 2011 - The Investment Company Institute’s Board of Governors has elected Gregory Johnson, President and CEO, Franklin Resources, Inc., to serve as ICI Chairman for a one-year term. In addition, the ICI membership elected a slate of Governors.

“I am honored to be elected by the Institute’s Board as Chairman,” Johnson said. “I anticipate a busy year ahead for the ICI. It will be a pleasure for me to continue to work with the ICI’s Board and staff to advance the interests of funds and their shareholders.”

Johnson was elected Co-Chief Executive Officer of Franklin Resources in 2004 and has served as the company’s President and CEO since 2005. He is also Chairman of the Board of Franklin Templeton Distributors, Inc., President of Franklin Investment Advisory, LLC, and Vice President of Franklin Advisers, Inc. In addition, Johnson serves on Fiduciary Trust Company International’s Board of Directors and is a member of a number of Franklin Templeton’s international fund boards. Johnson joined Franklin in 1986, after working as a senior accountant for Coopers & Lybrand. Johnson was first elected to ICI’s Board in October 2005.

ICI President and CEO Paul Stevens said, “Greg Johnson is recognized and respected for his leadership throughout our industry. He is superbly suited to the role of the Institute’s Chairman. I am truly delighted at his election, and look forward to working closely with him and with our outstanding Board of Governors.”

As Chairman, Johnson will preside over the Board of Governors, the governing body of the Institute, and the Executive Committee of the Board. The Board is responsible for setting policy and overseeing activities of the Institute, whose members include mutual funds, closed-end funds, exchange-traded funds, and unit investment trusts.

The Institute’s membership elected a slate of Governors that included three new members to the Board for terms that will expire September 30, 2014. They are:

James Boyle, President, John Hancock Financial Services, Inc. Catherine L. Newell, General Counsel, Dimensional Fund Advisors Mary Ann Tynan, Independent Director, Oppenheimer Funds 

Edited by: Hung Tran


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