Robert C. Pozen, president of Fidelity Management & Research, will leave the firm at the end of the year to pursue private interests, including serving on President Bush’s commission on Social Security. Abigail P. Johnson, who heads the company’s equity funds area, will replace him on June 15. She is the daughter of company founder Edward C. Johnson.
Mr. Pozen will remain vice chairman of Fidelity Investments and will continue to assist Mr. Johnson with special projects until year-end. Fidelity has not named Ms. Johnson’s replacement as head of equity fund investments. She will report to Robert L. Reynolds, vice chairman and COO of Fidelity Investments and will become a member of the company’s operating committee.
Ms. Johnson said she does not expect to make major changes to the investment management operations, although she intends to "leave her mark.” She would not confirm that her new position places her closer to replacing her father as head of Fidelity and said she expects her father to continue working for some time. She also said she expects Fidelity to remain a privately held company.
