Edward C. Johnson III

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Edward C. Johnson III
Occupation Chairman Emeritus (deceased)
Employer Fidelity Investments

Fidelity Investments Chairman Emeritus Edward Crosby Johnson III, also known as Ned, managed Fidelity's flagship Magellan fund from 1965 until 1972, when he took the reins as president of Fidelity Investments. He died in March of 2022.

His daughter, Abigail Johnson, succeeded him as Fidelity’s CEO in 2014.

Johnson led FMR, Fidelity’s parent company, and made a name for the company in the 1960s with heavily promoted and aggressively managed stock funds. In 1974, the company helped popularize the fledgling money-market business by allowing customers to write checks against its money fund.[1]

Forbes called Johnson "famously frugal" and a "phenomenal stock-picker" who still questioned his fund managers on their picks. After taking the helm, the younger Johnson broadened Fidelity's base of funds by investment strategy and successfully marketed them to a wider retail investor base. He also insisted on keeping Fidelity private to shield it from short-term market pressures and allow it to make long-term investment decisions in technology.

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