Manager Changes at Fidelity

Manager changes at Fidelity were announced today. They will not be effective until July.

Effective July 1, 2009:

Sonu Kalra has been named portfolio manager of Fidelity Blue Chip Growth Fund, succeeding Jennifer Uhrig, who after 22 years at Fidelity is retiring from portfolio management. Kalra has been managing Fidelity OTC Portfolio since 2005. He joined Fidelity in 1998 as an analyst covering the radio, television and entertainment industries, and subsequently followed various sectors within the technology industry including hardware, software, networking and Internet stocks. Kalra also served as technology sector leader from 2002 until 2005, and managed Select Networking and Infrastructure Portfolio in 2002. He managed Select Technology Portfolio, Fidelity Advisor Technology Fund, VIP Technology Portfolio, and Select Computers Portfolio from 2002 until 2005, when he assumed responsibility for OTC Portfolio.


Gavin Baker has been named portfolio manager of Fidelity OTC Portfolio, succeeding Kalra. Baker will continue to manage Select Wireless Portfolio. He joined Fidelity’s equity research department in 1999 following the cement and building materials industries, and subsequently followed the semiconductor industry. In 2002, Baker began following the pharmaceutical sector, and managed Select Pharmaceuticals Portfolio from 2002 to 2005. He then started following large-cap consumer stocks before assuming in 2006 the role of diversified analyst working with the large- cap growth group. In 2007, Baker began managing Select Wireless Portfolio, Select Telecommunications Portfolio, Fidelity Advisor Telecommunications Fund, and VIP Telecommunications Portfolio. Prior to joining Fidelity, Baker was an equity research intern at Lehman Brothers in San Francisco in 1998 and an investment services group intern for Donaldson, Lufkin & Jenrette in Boston in 1996.

Kristina M. Salen has been named portfolio manager of Select Telecommunications Portfolio, Fidelity Advisor Telecommunications Fund and VIP Telecommunications Portfolio, succeeding Baker. Salen will continue to manage Select Multimedia Portfolio, which she has managed since 2006. She joined Fidelity in 2006 as an equity research analyst following the U.S. media, cable, satellite, and Internet industries. Previously, she served as an assistant vice president and equity analyst covering the U.S. media, cable, satellite, and Internet industries and earlier the beverage industry for Oppenheimer Capital in New York from 2002 to 2005. From 1998 to 2001, Salen was a vice president and equity analyst following the retail, beverage and steel sectors in emerging markets for Merrill Lynch Investment Managers in Plainsboro,NJ. She also served as an equity analyst following the beverage and retail sectors in Latin America and Eastern Europe for Lazard Freres & Co., LLC, in New York from 1997 to 1998, and as a research associate assisting in the research of the Latin American retail sector for SBC Warburg, Inc. in New York from 1995 to 1997.

Kyle L. Weaver has been named co-portfolio manager of Select Wireless Portfolio, which he will manage with Baker. Weaver will continue to manage Select IT Services Portfolio, for which he assumed responsibility in 2009. Since joining Fidelity in 2008 as an equity analyst, Weaver has followed companies in the telecommunications and IT services sectors. Previously, he was a research analyst and portfolio manager for RiverSource Investments, LLC, covering the IT services, consumer retail and telecommunications sectors, beginning in 2002. From 2001 to 2002, Weaver was an analyst for Bain Capital, LLC, where he conducted due diligence for several private equity transactions. He began his career with Bain & Company as an associate analyst in 1999.