Fidelity's Abigail Johnson gets new funds board post
* Abigail Johnson to chair fixed-income board: spokeswoman
* Edward Johnson remains chair of equities board
* Latest additional power for possible successor
BOSTON, June 1 (Reuters) - A daughter of Fidelity Investments' controlling family is replacing her father as chair of one of the company's key mutual funds boards, a spokeswoman said.
The new post gives more influence to Abigail Johnson, 47, who is taking over from her father Edward Johnson III, 78, on the board that oversees 161 fixed-income and asset-allocation funds.
Edward Johnson remains chair of the board that oversees Fidelity's equity funds. The change isn't being made for reasons of succession, spokewoman Anne Crowley said, but rather follows a move to split oversight of the company's mutual funds between the two boards.
It also follows past experiences for Abigail Johnson, who is already vice-chairman of Fidelity's parent company and leads its division that runs workplace retirement plans.
Crowley noted Abigail Johnson is already vice-chair of Fidelity's parent company and oversees retirement businesses that distribute the asset-allocation funds.
John Bonnanzio, editor of the independent Fidelity Insight newsletter, said the new post reinforces Abigail Johnson's powers.
"This would certainly suggest Fidelity is laying the groundwork for Abigail as the overriding force" at the firm, he said.
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