Fannie Board Sides With Mudd in Management Shakeup; Freddie CEO Syron Withstands Calls for Resignation
September 4, 2008
After four consecutive quarters during which Fannie Mae has lost approximately $9.5 billion, the company’s board finally shook up the management team, forcing three top executives out the door but retaining President and CEO Dan Mudd. Last week, Fannie’s board booted Chief Business Officer Robert Levin, Chief Financial Officer Stephen Swad and Chief Risk Officer Enrico Dallavecchia...