Abigail P. “Abby” Johnson was named chairwoman of Fidelity Investments, according to an internal memo obtained by Pensions & Investments.
She replaces her father, Edward “Ned” Johnson, who will become chairman emeritus. He will continue to consult periodically with Ms. Johnson and Fidelity's board.
“This expansion of responsibilities is a natural progression of Abby's 28-year career at Fidelity, in which she has taken on increasingly more challenging and complex roles,” Mr. Johnson said in the memo.
Ms. Johnson was named CEO of Fidelity Investments in October 2014 after her father retired from the role.