Fidelity Seeks New President After All

| 11 July 2009

Sometimes the spokesperson is the last to find out. According to reports in the Wall Street Journal, Rodger Lawson may be out after all. And this just two weeks after Ann Crowley confirmed the firm’s “full confidence” in Lawson. The story cites two anonymous sources and can’t confirm the reasons for his departure. Lawson took over as president of the firm in August 2007.

Lawson took over the reins of the firm, founded by the Johnson family, promising to improve the performance of the company’s mutual funds. A tough promise to keep with the market downturn, for sure, but according to the Journal, Fidelity’s funds outperformed only 46 percent of their peers.

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