Former Freddie Mac CEO returning as consultant
Mortgage finance company Freddie Mac, coping with the apparent suicide of its acting chief financial officer, said Friday that its former chief executive is coming back temporarily to help oversee the company's finances.
By Agencies |
WASHINGTON: Mortgage finance company Freddie Mac, coping with the apparent suicide of its acting chief financial officer, said Friday that its former chief executive is coming back temporarily to help oversee the company's finances.
David Moffett, the former government-appointed CEO who resigned from Freddie Mac in March, will return as a consultant to the company's interim CEO John Koskinen, aiding him with producing financial statements.
In an interview with The Associated Press on Thursday, Moffett said he would ``be happy to help them in any way.''
David Kellermann, the company's acting chief financial officer was found dead Wednesday in the basement of his home. The 41-year-old Kellermann was promoted in September when the government seized Freddie Mac and ousted top executives.
Koskinen said in a statement he was ``grateful to (Moffett) for offering to assist us during this challenging time,'' and that Freddie Mac will continue looking for a permanent CFO.
Kellermann's death came after he met on Tuesday with Koskinen and Freddie Mac's chief human resources officer, who had noticed that he was under stress and suggested that he take time off, according to a person close to the company who spoke on condition of anonymity because of the sensitive nature of the events.
During the conversation, Kellermann briefly mentioned the possibility of leaving Freddie Mac but did not submit his resignation, the person said.
As acting CFO, Kellermann oversaw a staff of about 500 at Freddie Mac's headquarters in McLean, Virginia, and had been working on the company's first-quarter financial report, due by the end of May.
He also had been embroiled recently in a dispute between Freddie and the Securities and Exchange Commission over its financial reports, according to a law enforcement official who spoke on condition of anonymity because the person was not authorized to discuss the case.
Freddie also is the subject of a criminal probe by federal prosecutors in Virginia, though there are no indications that Kellermann was considered a target.
David Moffett, the former government-appointed CEO who resigned from Freddie Mac in March, will return as a consultant to the company's interim CEO John Koskinen, aiding him with producing financial statements.
In an interview with The Associated Press on Thursday, Moffett said he would ``be happy to help them in any way.''
David Kellermann, the company's acting chief financial officer was found dead Wednesday in the basement of his home. The 41-year-old Kellermann was promoted in September when the government seized Freddie Mac and ousted top executives.
Koskinen said in a statement he was ``grateful to (Moffett) for offering to assist us during this challenging time,'' and that Freddie Mac will continue looking for a permanent CFO.
Kellermann's death came after he met on Tuesday with Koskinen and Freddie Mac's chief human resources officer, who had noticed that he was under stress and suggested that he take time off, according to a person close to the company who spoke on condition of anonymity because of the sensitive nature of the events.
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During the conversation, Kellermann briefly mentioned the possibility of leaving Freddie Mac but did not submit his resignation, the person said.
As acting CFO, Kellermann oversaw a staff of about 500 at Freddie Mac's headquarters in McLean, Virginia, and had been working on the company's first-quarter financial report, due by the end of May.
He also had been embroiled recently in a dispute between Freddie and the Securities and Exchange Commission over its financial reports, according to a law enforcement official who spoke on condition of anonymity because the person was not authorized to discuss the case.
Freddie also is the subject of a criminal probe by federal prosecutors in Virginia, though there are no indications that Kellermann was considered a target.
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