The Investment Company Institute has named Gregory Johnson, president and chief executive officer of Franklin Resources as chairman for a one-year term. As chairman, Johnson will oversee ICI’s board of governors, which sets policies and oversees the institute.

“Greg Johnson is recognized and respected throughout our industry,” said ICI President and CEO Paul Stevens. “He is superbly suited to the role of the Institute’s chairman. I am truly delighted at his election and look forward to working closely with him and with our outstanding board of governors.”

Johnson said, “I am honored to be elected by the Institute’s board as chairman. I anticipate a busy year ahead for the ICI. It will be a pleasure for me to continue to work with the ICI’s board and staff to advance the interests of funds and their shareholders.”

Johnson became co-CEO of Franklin in 2004 and president and CEO in 2005. He is also chairman of the board of Franklin Templeton Distributors, president of Franklin Investment Advisory and vice president of Franklin Advisers. He joined the firm in 1986 after working as a senior accountant at Coopers & Lybrand.

In addition, the ICI named three new members of the board for terms that will expire on Sept. 30, 2014. They are: James Boyle, president of John Hancock Financial Services, Catherine L. Newell, general counsel of Dimensional Fund Advisors and Mary Ann Tynan, independent director of Oppenheimer Funds.

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