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Exec Move - Flanagan, Johnson to Serve As Co-CEOs at Franklin

Mutual fund company Franklin Resources has named Martin L. Flanagan and Gregory E. Johnson co-chief executive officers, effective Jan. 1, 2004. Current CEO Charles Johnson will continue in his role as chairman.

Flanagan and Johnson have served as presidents of the company since 1999. The company's independent directors, who made a unanimous recommendation to the full board, determined the selection of the new co-CEOs.

Flanagan is a member of the Investment Company Institute's board of governors and sits on the board of a number of Franklin Templeton funds and subsidiaries. Gregory Johnson is chairman of Franklin Templeton Distributors and a board member of Fiduciary Trust Co. International. He also sits on a number of the firm's mutual funds.

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