Edward Johnson III President of Management Country: USA

1. Biography of Edward C. Johnson III
2. Leadership at Management & Research Corp
3. Chairman and CEO of FMR Corp
4. Customer Interaction and Business Strategies
5. Current Endeavors and Achievements

Biography of Edward C. Johnson III

Edward C. Johnson III is an American investor and businessman, currently serving as the Chairman and CEO of FMR Corp, the parent company of Fidelity Investments. He was born in Boston, Massachusetts, USA, into the prominent Johnson family. After graduating from Harvard University in 1954, he joined his father's business management.

Leadership at Management & Research Corp

In 1972, Johnson became the President of Management & Research Corp, a position he held until 1977. During his time as President, he focused on the company's management and research strategies to ensure maximum profitability.

Chairman and CEO of FMR Corp

In 1977, Johnson assumed the role of Chairman and CEO of FMR Corp. Under his leadership, Fidelity Management and Research Company (FMR Corp's subsidiary) became one of the largest mutual fund companies. The company, which was founded by Edward C. Johnson II in 1946, managed around 14 funds and had an annual turnover of $2 billion. Currently, it is one of the largest companies in the mutual fund industry.

Customer Interaction and Business Strategies

Johnson always considered customer interaction as paramount. His companies had several strategies in place, including minimizing losses and making confident decisions that would result in profit. He inherited a deep respect for the market from his father, who believed that Fidelity Management and Research Company was primarily a company for generating ideas rather than solely focusing on profitability. Johnson felt a sense of guilt when the company's profits were high.

Current Endeavors and Achievements

FMR Corp, headquartered in Boston, USA, specializes in financial services products. In 2006, the company reported a revenue of $12.87 billion. Edward C. Johnson III is estimated to have a net worth of $7.5 billion, making him the 35th richest person in the United States and the 80th richest person globally, according to Forbes. Additionally, Johnson's daughter, Abigail Johnson, is a successful businesswoman who manages a portion of Fidelity Investments under her father's guidance. She is currently focused on providing pension program and compensation management services.