Freddie Mac Names Koskinen Interim CEO

Posted by Orb Staff on March 11, 2009 No Comments
Categories : Residential Mortgage

Freddie Mac's board of directors has named John A. Koskinen the company's interim CEO and Robert F. Glauber its interim nonexecutive chairman. Both appointments will be effective upon the resignation of current CEO David M. Moffett, who had previously announced that he would resign from his position as CEO and as a member of the board no later than March 13.

Koskinen had served as non-executive chairman of Freddie Mac since September 2008. Previously, he was president of the United States Soccer Foundation for four years; deputy mayor and city administrator of Washington, D.C., from 2000 to 2003; assistant to the president and chair of the President's Council on Year 2000 Conversion from 1998 to 2000; and deputy director for management of the Office of Management and Budget from 1994 to 1997.

Glauber initially joined the Freddie Mac board of directors in 2006. He is a lecturer at Harvard's Kennedy School of Government and a visiting professor at the Harvard Law School. Prior to that, he served as chairman and CEO of the National Association of Securities Dealers from 2001 to 2006, after first serving as its CEO and president and a member of its board.

Freddie Mac's board of directors is working with the company's conservator, the Federal Housing Finance Agency, to appoint a permanent chief executive officer. Following such appointment, the board of directors expects that Koskinen will return to the position of nonexecutive chairman.

SOURCE: Freddie Mac

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