The Investment Company Institute’s Board of Governors elected Gregory Johnson, president and CEO of Franklin Resources, as ICI chairman for a one-year term, the group said in early October. In addition, the ICI membership elected a slate of governors to serve through the fall of 2014: James Boyle, president of John Hancock Financial Services; Catherine L. Newell, general counsel of Dimensional Fund Advisors; and Mary Ann Tynan, independent director of Oppenheimer Funds.
“I am honored to be elected by the Institute’s Board as Chairman,” Johnson said in a press release. “I anticipate a busy year ahead for the ICI. It will be a pleasure for me to continue to work with the ICI’s Board and staff to advance the interests of funds and their shareholders.”
Johnson was elected co-CEO of Franklin Resources in 2004 and has served as the company’s president and CEO since 2005. He is also chairman of the board of Franklin Templeton Distributors, president of Franklin Investment Advisory and vice president of Franklin Advisers. In addition, Johnson serves on Fiduciary Trust Company International’s board of directors and is a member of a number of Franklin Templeton’s international fund boards.
Johnson joined Franklin in 1986, after working as a senior accountant for Coopers & Lybrand. He was first elected to ICI’s board in October 2005.
“Greg Johnson is recognized and respected for his leadership throughout our industry,” said ICI President and CEO Paul Stevens in a statement. “He is superbly suited to the role of the institute’s chairman. I am truly delighted at his election, and look forward to working closely with him and with our outstanding board of governors.”
As chairman, Johnson will preside over the board, which is the governing body of the ICI, and the executive committee of the board. According to the ICI, the board is responsible for setting policy and overseeing activities of the institute, which includes members of companies that market mutual funds, closed-end funds, exchange-traded funds and unit investment trusts.