April 22, 2009

Freddie Mac acting CFO found dead in apparent suicide

David Kellermann, the acting chief financial officer of Freddie Mac was found dead at his home Wednesday morning in an apparent suicide, according to published reports.

His death comes as staff from the Securities and Exchange Commission and Justice Department have been probing the finance company about issues including possible accounting violations, The Wall Street Journal reported.

Source: MarketWatch

January 5, 2009

The biggest CEO firings of 2008

The biggest names to be shown the door as a result of the economic crisis:

  • Martin Sullivan of American International Group (let go in June)
  • Kerry Killinger at Washington Mutual (September)
  • Richard Fuld of Lehman Brothers (leaving next month)

“Their distinguished company includes James Cayne of the now-deceased Bear Stearns and Richard Syron and Daniel Mudd, the former CEOs of the mortgage buyers Freddie Mac and Fannie Mae.”,  according to Forbes and MSNBC

“There are two kinds of CEO firings,” says Noel Tichy, a professor at the Ross School of Business at the University of Michigan. “There are the crooks and there are the incompetents.” This year the biggest departing names all fell into a gray area in between.”

Source: Forbes, MSNBC

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