Moffett Resigns As Freddie Mac CEO

David Moffett, CEO of Freddie Mac, has notified the chairman of the board of directors of his resignation from his position as chief executive and as a member of the board effective no later than March 13. Moffett has indicated that he wants to return to a role in the financial services sector, Freddie Mac says.

The board of directors is working with the Federal Housing Finance Agency to appoint a successor to Moffett.

‘We expect to name an interim CEO before March 13 to assume David's responsibilities once he leaves,’ states John Koskinen, chairman of the board at Freddie Mac. ‘The board remains fully committed to ensuring the company continues its critical role in supporting the housing finance system during this difficult economic period.’

SOURCE: Freddie Mac

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