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Charting Freddie Mac’s Course Forward After Layton

Freddie Mac announced today that Donald H. Layton will retire as CEO and that the Board of Directors has appointed David M. Brickman to succeed him effective Monday, July 1. Brickman will become a member of the Freddie Mac Board of Directors at that time.

In September 2018, the Board announced Brickman’s promotion to President and Layton’s intent to retire in the second half of the 2019. The Board also announced that it would conduct a search for Layton’s successor, which would include Brickman as well as external candidates. After a thorough search and selection process, the Board has chosen Brickman to be the next CEO; the Federal Housing Finance Agency, as Freddie Mac’s conservator, has approved this decision.

Commenting on the promotion, Sara Mathew, Chair of Freddie Mac’s Board of Directors, said the following: “Don has been a remarkable leader during a period of tremendous change at Freddie Mac, and on behalf of the Board and the company, I would like to thank him for his outstanding leadership over the last seven years.”

Mathew continued, “The Board engaged in a multi-year succession process to ensure we selected the right leader, and David is an outstanding choice to serve as our next CEO. He is an exceptional business leader, having demonstrated great strategic and execution skills as the long-time head of our Multifamily business. He led the process of driving credit risk transfer and attracting private capital to finance multifamily housing while protecting the American taxpayer. More recently, he has also impressed the Board with his work as President. David is well respected within the company and the industry and is the best choice to lead Freddie Mac going forward.”

Added Layton, “David is a proven business builder, having taken Freddie Mac’s Multifamily business to the preeminent position in that market. In all his work, he demonstrates a passion for the business, the mission and the people of Freddie Mac. Everything I have seen during his tenure as President has convinced me that David is the right choice to serve as the next CEO and take Freddie Mac forward.”

About Author: David Wharton

David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 15 years of experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at David.Wharton@theMReport.com.
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