Four Months Later, Freddie Fills CEO Post
Mortgage giant Freddie Mac (FRE) named finance industry veteran Charles Haldeman Jr. as CEO and board of directors member more than four months after its former CEO, David Moffett, resigned. Freddie had placed John Koskinen into an interim CEO role in March after Moffett's resignation, but Koskinen now returns to position as chairman of the board as Haldeman takes the reins. "He has a wealth of experience in finance and an impressive record of successfully leading companies through challenging transformations," Koskinen said in a corporate statement Tuesday. "His commitment to our mission and his reputation for integrity and the highest professional standards will serve Freddie Mac well as it emerges from this challenging economic environment and continues to play a leading role in preserving homeownership for America's families." Haldeman brings a breadth of financial services experience to his post at Freddie. In 2003 he became president and CEO of Putnam Investment Management and for the last year served as chairman. Haldeman also served as chairman and CEO at Delaware Investments. He is currently chairman of the board of trustees of Dartmouth College. "Throughout his career, Ed has demonstrated the ability to resolve significant regulatory issues and establish strong operational and risk controls, skills that will translate well to the current needs at Freddie Mac," said James Lockhart, director of the Federal Housing Finance Agency, in a statement shortly after Freddie's announcement. Write to Diana Golobay. Disclosure: The author held no relevant investment positions when this story was published.