Yesterday, Edward “Ned” Johnson announced he is stepping down as Chairman of Fidelity Investments. What I remember most from my time working at Fidelity Investments circa 1995 is how Mr. Johnson’s imprint on the company, and his desire to run it like a small family business, were felt by all 30,000 of us.
Dick Young’s relationship with Johnson goes back to circa 1971. He wrote in the February of 2013 issue of Intelligence Report, “I have done business with the Boston-based Fidelity Funds since the early seventies, when the iconoclastic J. Stewart Harvey was director of research. And I first did business with Fidelity back in 1971.”
Thank you Mr. Johnson.