Fidelity Chairman Johnson retiring
Fidelity Investments’ longtime Chairman Edward “Ned” Johnson is retiring, completing the transfer of the company to his daughter Abigail Johnson. Abigail Johnson is taking over as chairwoman, the company said in a memo on Monday. She is already Fidelity’s CEO and will hold both positions. Ned Johnson became CEO of Fidelity in the mid-1970s and led the Boston company through a period of growth, fueled in part by the growing popularity of 401(k)s and other retirement accounts.