Fidelity faces another high-level resignation

Fidelity Investments was hit again by turnover at its highest levels yesterday when one of its top executives abruptly resigned just four months after being promoted to head a major division.

Ellyn A. McColgan was widely seen as a candidate for chief executive after her April promotion to president of Fidelity's distribution business, overseeing nearly half the company's 42,000 employees. But her sudden departure now adds another wrinkle to the succession questions facing a company whose chairman, Edward C. "Ned" Johnson III, is 77 years old and shows no sign of slowing down.

Read Full Article from Boston Globe

- Posted: 2007-08-08 09:53:43

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