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Article: Fidelity faces another high-level resignation - McColgan departs four months after a promotion
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- August 8, 2007
- Author:
CopyrightCopyright 2007 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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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.
She is the fourth top executive to leave Fidelity this year.
Former Fidelity vice chairman and chief operating ...