Freddie Mac chief to resign
03-03-2009
The head of the embattled US mortgage finance giant Freddie Mac, which was put under government control in September to avoid collapse, will resign this month, the firm said. Freddie Mac chief executive David Moffett notified the chairman of the board of directors that he was resigning both as CEO and as a member of the board effective no later than March 13, the company said in a statement. "Moffett indicated that he wants to return to a role in the financial services sector," it said. Freddie Mac said the board was working with the Federal Housing Finance Agency, which has control of the firm, to appoint a successor.
