Star Fidelity Stock Picker to Retire

Joel Tillinghast, one of Fidelity Investments’s brightest stock-picking stars, will retire from investing in two years.

Fidelity said Tuesday that Mr. Tillinghast would stay on at the firm beyond then as a senior adviser to its equity team. In late 2023, the 63-year-old investor will hand off his flagship Low-Priced Stock Fund to co-managers Sam Chamovitz and Morgen Peck.