Form 8-K FRANKLIN RESOURCES INC For: Aug 18
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E-mailUNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 18, 2015
FRANKLIN RESOURCES, INC.
(Exact name of registrant as specified in its charter)
Delaware | 001-09318 | 13-2670991 |
(State or other jurisdiction | (Commission File Number) | (IRS Employer Identification No.) |
of incorporation) | ||
One Franklin Parkway, San Mateo, California 94403
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (650) 312-2000
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) and (c) On August 18, 2015, the Board of Directors of Franklin Resources, Inc. (the “Company”) took the following actions to become effective on October 1, 2015:
• | Changed Gregory E. Johnson’s title to Chairman of the Board and Chief Executive Officer. He currently is also the President of the Company. Mr. Johnson will continue to serve as principal executive officer of the Company following the title change. |
• | Appointed Vijay C. Advani and Jennifer M. Johnson each as a Co-President of the Company. |
A copy of the related press release is attached as Exhibit 99.1 to this Form 8-K.
Mr. Advani, age 54, has served in his current role as Executive Vice President - Global Advisory Services of the Company since 2006. Mr. Advani joined the Franklin Templeton organization in 1995, serving in several leadership roles related to international retail development and global distribution. Mr. Advani also has been an officer or director of certain subsidiaries of the Company for more than the past five years. As of August 18, 2015, during the fiscal year ending September 30, 2015, the Company repurchased from Mr. Advani 6,773 shares of common stock for an aggregate consideration of $385,113 in order to pay taxes due in connection with the vesting of restricted stock granted under the Company’s stock incentive plan. The repurchase price was the closing price on the NYSE on the date of the transaction.
Ms. Johnson, age 51, has served as the Executive Vice President and Chief Operating Officer of the Company since 2010. Prior to her appointment to that role, she served as Executive Vice President - Operations and Technology of the Company since December 2005. Ms. Johnson was also formerly Senior Vice President and Chief Information Officer of the Company from May 2003 to December 2005. Ms. Johnson also has been an officer or director of certain subsidiaries of the Company for more than the past five years. She joined the company in 1988. Ms. Johnson is a sister of Gregory E. Johnson and Charles E. Johnson and a niece of Rupert H. Johnson, Jr. Gregory E. Johnson is the Chairman of the Board, Chief Executive Officer and (current) President and a director of the Company, Rupert H. Johnson, Jr. is Vice Chairman and a director of the Company and Charles E. Johnson is a director of the Company.
Item 9.01 Financial Statements and Exhibits.
Exhibit 99.1 | Press Release dated August 20, 2015 | |||
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
FRANKLIN RESOURCES, INC. | ||
Date: | August 20, 2015 | /s/ Craig S. Tyle |
Name: Craig S. Tyle Title: Executive Vice President and General Counsel | ||
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Exhibit Index
Exhibit No. | Description | |||
99.1 | Press Release dated August 20, 2015 | |||
EXHIBIT 99.1
 |  | |
FROM: | Franklin Resources, Inc. |
Investor Relations: Brian Sevilla (650) 312-4091 | |
Media Relations: Matt Walsh (650) 312-2245 | |
investors.franklinresources.com | |
FOR IMMEDIATE RELEASE
Franklin Resources, Inc. Appoints
Vijay C. Advani and Jennifer M. Johnson as Co-Presidents
Gregory E. Johnson Continues as Chairman of the Board and Chief Executive Officer
San Mateo, CA, August 20, 2015 - Franklin Resources, Inc. (the “company”) [NYSE:BEN] today announced the appointments of Vijay C. Advani and Jennifer M. Johnson as Co-Presidents, effective October 1, 2015. Current President, Gregory E. Johnson, will continue in his role as Chairman of the Board and Chief Executive Officer.
The Co-President appointments were unanimously approved by the company’s Board of Directors and reflect their confidence in the continued leadership of Mr. Advani and Ms. Johnson, who have each been with the firm for more than 20 years and have served as members of the CEO’s direct report group since its formation in 2005.
“As our company continues to grow in size and complexity, one of our most essential responsibilities is to ensure that we have the right talent and resources in place so that we remain nimble in our decision-making and maintain a clear focus on our business priorities to drive the continued growth of the company,” said Greg Johnson. “Vijay and Jenny have been instrumental to the company’s long-term growth and their new roles as Co-Presidents will give them expanded responsibilities, and provide us with a fresh perspective from two extremely experienced and innovative thinkers in our industry. I will continue as Chairman and CEO, with Vijay and Jenny working closely with me to make enterprise-level decisions.”
As Co-Presidents, Mr. Advani and Ms. Johnson will now jointly oversee investment management and all related investment management support services, including trading and risk management, in addition to their previous areas of responsibility.
Mr. Advani has served in his current role as Executive Vice President, Global Advisory Services since 2006, responsible for the company’s global retail and institutional strategies and initiatives, including sales, marketing, client service and product development. He joined Franklin Templeton in 1995 and has served in various leadership roles in the areas of international retail development and global distribution.
Ms. Johnson has served as Executive Vice President and Chief Operating Officer since 2010, overseeing the company’s global transfer agency operations, investment services, technology, human resources and Fiduciary Trust Company International. She joined the firm in 1988, and previously served as the company’s Chief Information Officer.
Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management to retail, institutional and sovereign wealth clients in over 150 countries. Through specialized teams, the Company has expertise across all asset classes -including equity, fixed income, alternative and custom solutions. The Company’s more than 600 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in 35 countries, the California-based company has more than 65 years of investment experience and over $854 billion in assets under management as of July 31, 2015. For more information, please visit franklinresources.com.
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