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Rating:WSJ: Fido Succession Plan Calls for Abby as Chairman, but Not Necessarily CEO Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, November 09, 2007

WSJ: Fido Succession Plan Calls for Abby as Chairman, but Not Necessarily CEO

by: Erin Kello

There is a succession plan at Fidelity, reports the WSJ's Jennifer Levitz, and it does involve Abby Johnson to an extent. Sources familiar with the situation tell Levitz that Ned Johnson would like Abby to become chairman of the company, but necessarily CEO, leaving the company, family-owned but, not necessarily family-run. The three non-family board members with the power to decide Abby's fate are, James Curvey, John Remondi and William Byrnes, who upon Ned's death or incapacitation will choose a successor. The three are considered intensely loyal to Ned and would be expected to go along with his wish that Abby be chairman. Curvey, Remondi, and Byrnes would then decided if at that time Abby was ready for the CEO position.  

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