Former Fannie CEO Mudd Takes Leave Of Absence From Fortress Post

Fortress Investment Group has announced that CEO Daniel Mudd is taking a leave of absence. Mudd, a former Fannie Mae CEO, was among the six former government-sponsored enterprise executives named in securities fraud lawsuits by the U.S. Securities and Exchange Commission last week.

Randal A. Nardone, Fortress principal and co-founder, will serve as interim CEO, the company says.

"I have requested a leave of absence from my position as chief executive officer to ensure that any time or attention I need to focus on matters outside of Fortress will not affect the business or operations of the company," Mudd said in a statement.

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