Freddie's Moffett Returns Temporarily
Former Freddie Mac (FRE) CEO David Moffett is temporarily returning to the mortgage giant as a consultant to the company's interim CEO, John Koskinen. As consultant, Moffett will assist and advise Koskinen on Freddie's finance division. "I am grateful to David for offering to assist us during this challenging time," Koskinen says in a press statement released today. "David is well positioned to advise me in my oversight of the finance function. He knows the company well from his time as chief executive, and has built an impressive career in finance and accounting leadership as an executive with other leading public companies." Freddie Mac will continue its search for a permanent chief financial officer to lead the finance division. Moffett resigned the chief executive position in early March, just six months after the government placed Freddie into conservatorship. He returns days after authorities found David Kellerman, Freddie's acting CFO since September 2008, dead from an apparent suicide in his home early Wednesday, police said. Write to Diana Golobay at firstname.lastname@example.org. Disclosure: The author held no relevant investment positions when this story was published. Indirect holdings may exist via mutual fund investments.