Abigail Johnson Steps Down from Fidelity Board

Reuters reports that Johnson is stepping down because she is no longer involved in the day-to-day money management business, according to a company spokeswoman.  

In a company reorganization in May, Johnson was removed as president of Fidelity Management & Research Company and named president of Fidelity Employer Services Company (See  Abigail Johnson Moves to FESCO in Sweeping Fidelity Reorganization).

Johnson is the daughter of Fidelity Chairman and CEO Edward Johnson, and is expected to someday inherit her father’s position.