Charles "Chuck" Johnson, a top executive at Franklin Resources, has taken a leave of absence from the company following what company officials called a "serious domestic dispute."
Johnson, a member of the office of the president and board of directors, is on leave effective immediately, the firm said this week. Martin Flanagan and Greg Johnson, both members of the office of the president, will assume Johnsons duties in his absence, Franklin said.
The San Mateo, Calif., firm did not disclose details about the alleged incident, but the San Francisco Chronicle reported this week that Johnson was arrested at a hospital on Sunday after he drove his wife there to be treated for a fractured eye socket. The paper reported he was later released and then rearrested for returning to his home, which violated an emergency restraining order.
"We consider these domestic dispute charges to be very serious," Franklin said in a statement. "However, this is a matter that must be resolved between Chuck Johnson, his family and the authorities. This matter is unrelated to the business of the company or its mutual funds . We have every hope that Mr. Johnson will work through this situation with his family."