Ned Johnson is, as usual, keeping mum, said Patricia Sellers in Fortune. Johnson, the tight-lipped 77-year-old chairman of Fidelity Investments, has seen three key executives depart in the past year, most recently operations chief Ellen McColgan. His daughter, Abby, long the favorite to succeed him, is rumored to be in ill health. And Fidelity, the world’s largest mutual fund company, is losing market share. Yet Johnson appears unruffled and has shied away from discussing the upheaval with “worried employees” or the press. Johnson’s stoicism may be admirable, but his refusal to address management succession is “clouding the firm’s future.” Middle-ranking executives are leaving, and Johnson has had trouble recruiting new talent, because of Fidelity’s “murky leadership outlook.” Complicating the picture is the health of Abby Johnson, 45. Over the past year, colleagues say, she lost her hair “as well as weight from her already slim frame.” She refuses to discuss her health, and co-workers say she has been looking much better lately. But until her father shares his succession plans, the rumors -- about Fidelity as well as Abby -- will continue to swirl.
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