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Share Name | Share Symbol | Market | Type |
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Falck Renewables SpA | BIT:FKR | Italy | Ordinary Share |
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Franklin Resources Inc Investor Relations: Alan Weinfeld, 650-525-8900 Corporate Communications: Lisa Gallegos, 650-312-3395 franklintempleton.com Franklin Resources, Inc. (operating as Franklin Templeton Investments) ("Franklin Templeton") (NYSE: BEN) today announced the appointment of Martin L. Flanagan and Gregory E. Johnson as co-chief executive officers effective January 1, 2004. Current CEO, Charles B. Johnson, will continue in his role as chairman. The selection of the new co-CEOs was determined by the company's independent directors who made a unanimous recommendation to the full Board of Directors. The change reflects the Board's confidence in the continued leadership of Flanagan and Johnson, who have served as presidents of the company since 1999. "These appointments are a natural evolution for Greg Johnson and Marty Flanagan and a recognition of a co-presidency that has worked extremely well," said Charlie Johnson, who has served as CEO since 1957. "As co-CEOs, Greg and Marty will share overall responsibility for leading the organization and continue to lead day-to-day business operations. As chairman, I will continue to provide oversight and guidance to the organization." Charlie Johnson continued, "As co-presidents, Marty and Greg have proven their ability to work well as a team and leverage one another's strengths and backgrounds. Over the past two decades, both have had experience in managing all major aspects of the business. A co-CEO structure reflects Franklin Templeton's commitment to a team-based leadership model, which we believe best positions the company for continued growth. Marty and Greg have been instrumental in developing the company's overall strategic direction and furthered our goal of becoming a premier global asset management company." Flanagan commented, "Greg and I have had the opportunity to work with an extremely talented group of individuals throughout the organization who share our passion for this business. We look forward to continuing the company's tradition of innovation and leading this organization forward together." Greg Johnson said, "I have really enjoyed working with Marty over the past 10 years and I am excited about continuing our partnership as co-CEOs. Marty and I will continue to focus on our mission of offering high-quality investment solutions and providing outstanding service to our customers globally. We are excited by the possibilities in this industry, both in U.S. and internationally, and we believe we are well positioned to take advantage of the right opportunities to grow our business." Flanagan currently serves as a co-president of Franklin Resources, Inc. He is a member of the Investment Company Institute's Board of Governors and is a board member of various Franklin Templeton mutual funds and subsidiaries. Prior to the acquisition by Franklin, he served as director, executive vice president and chief operating officer of Templeton, Galbraith & Hansberger Ltd. Before joining Templeton in 1983, Flanagan worked with Arthur Andersen & Co. He received a bachelor of business administration and a bachelor of arts degree from Southern Methodist University (SMU) in Dallas, Texas, and is a Certified Public Accountant (CPA) and a Chartered Financial Analyst (CFA). Greg Johnson currently serves as a co-president of Franklin Resources, Inc. He is also chairman of Franklin Templeton Distributors, Inc., president of Franklin Templeton Investment Services and vice president of Franklin Advisers, Inc. In addition, he serves on Fiduciary Trust Company International's Board of Directors and is also a member of a number of Franklin Templeton's international fund boards. Before joining Franklin in 1986, he was a senior accountant for Coopers & Lybrand. He received a bachelor's degree in business administration from Washington and Lee University and is a Certified Public Accountant (CPA). Flanagan and Greg Johnson will lead a live conference call on Thursday, October 23, 2003, at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time) to discuss the company's fourth fiscal quarter 2003 financial results and answer analysts' questions. Access to the teleconference will be available via franklintempleton.com 10 minutes before the start of the call or by dialing (877) 574-4065 in the U.S. or (706) 679-3804 internationally. A replay of the call will be archived on franklintempleton.com through November 6, 2003. The replay can also be accessed by calling (800) 642-1687 in the U.S. or (706) 645-9291 internationally using access code #2775729, after 7:30 p.m. Eastern Time on October 23, 2003, through 11:59 p.m. Eastern Time on November 6, 2003. Franklin Resources, Inc. [NYSE:BEN], is a global investment organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management services through its Franklin, Templeton, Mutual Series and Fiduciary Trust subsidiaries. The San Mateo, CA-based Company has over 50 years of investment experience and more than $301 billion in assets under management as of September 30, 2003. For more information, please call 1-800/DIAL BEN(R)or visit franklintempleton.com. Forward-Looking Statements: Statements in this press release regarding Franklin Resources, Inc.'s business, which are not historical facts, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks, uncertainties and other important factors, some of which are listed below, that could cause the actual results and outcomes to differ materially from any future results or outcomes expressed or implied by such forward-looking statements. These and other risks, uncertainties and other important factors are described in more detail in Franklin's recent filings with the U.S. Securities and Exchange Commission, including, without limitation, the "Risk Factors" section of the Management's Discussion and Analysis of Financial Condition and Results of Operations in Franklin's Annual Report on Form 10-K for the fiscal year ended September 30, 2002, and Franklin's most recent Form 10-Q. -- Volatility in the equity markets may cause the levels of our assets under management to fluctuate significantly. -- Weak market conditions may lower our assets under management and reduce our revenues and income. -- We face strong competition from numerous and sometimes larger companies. -- Changes in the distribution channels on which we depend could reduce our revenues or hinder our growth. -- We face risks associated with conducting operations in numerous foreign countries. -- Certain of the portfolios we manage, including our emerging market portfolios and related revenues, are vulnerable to market-specific political or economic risks. -- Our ability to meet cash needs depends upon certain factors, including our asset value, credit worthiness and the market value of our stock. -- Technology and operating risk and limitations could constrain our operations. -- Regulatory and legislative actions and reforms, including those directed at the mutual fund industry, could impact the Company.
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