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Freddie Mac’s Chief Executive to Resign

""Freddie Mac"":http://www.freddiemac.com CEO Charles E. Haldeman Jr. has informed the GSE's board of directors that he plans to step down ""some time in the coming year,"" according to a statement from Freddie's regulator.

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The ""Federal Housing Finance Agency"":http://www.fhfa.gov (FHFA) says Haldeman has assured the board and FHFA of his commitment to remain as CEO until a succession plan has been put in place.

""Ed Haldeman has brought strong leadership to Freddie Mac,"" said Edward DeMarco, acting director of FHFA. ""I appreciate his commitment to leadership stability during the upcoming transition.""

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Haldeman, 62, has stood at the helm of Freddie Mac since August 2009. Before joining the GSE, Haldeman was chairman of Putnam Investment Management.

Haldeman is the third individual to hold the chief executive position at Freddie Mac since the company was placed into conservatorship by the federal government in September 2008.

His planned resignation came at the end of an FHFA announcement outlining a host of board changes at Freddie Mac.

Board chairman John Koskinen, who served as interim CEO prior to Haldeman’s appointment, and Robert Glauber, chairman of the board’s governance and nominating committee, have reached the company’s mandatory retirement age of 72 and will be stepping down from their posts at the end of the current term in February 2012.

Christopher Lynch, currently chairman of the board’s audit committee, will assume the chairmanship of the Freddie Mac board, effective at the December 2011 board meeting.

Separately, Laurence E. Hirsch notified the company that he will not seek re-election to the board of directors when his current term expires in February.

About Author: Carrie Bay

Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.
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