Fannie Mae Names Interim Chief as CEO
From Reuters
Fannie Mae named interim Chief Executive Daniel Mudd as permanent CEO and president, erasing one of many uncertainties surrounding the mortgage funder as its investigation of multibillion-dollar accounting problems unfolds.
Mudd, previously chief operating officer, took the top job in December after Fannie Mae’s former chief, Franklin Raines, retired as securities regulators questioned the company’s accounting and demanded a restatement of results.
Accounting problems remain under investigation and may result in a profit restatement of as much as $11 billion.
