March 11, 2009 (FinancialWire) -- Mortgage funder Freddie Mac's (NYSE: FRE) board has named John A. Koskinen as the company's interim chief executive officer and Robert F. Glauber as its interim non-executive chairman. Both appointments will be effective upon the resignation of current CEO David M. Moffett, who will resign from his position as CEO and as a director no later than March 13.

Koskinen had served as non-executive chairman of Freddie Mac since September 2008. He was president of the United States Soccer Foundation for four years, deputy mayor and city administrator of Washington, DC from 2000 to 2003, assistant to the president and chair of the President's Council on Year 2000 Conversion from 1998 to 2000 and deputy director for management of the Office of Management and Budget from 1994 to 1997.

Prior to his government service, Koskinen worked as a senior executive of The Palmieri Co., including serving as president and CEO, participating in the restructuring of a range of large, troubled enterprises including the Penn Central, the Teamsters Pension Fund, Levitt and Sons and Mutual Benefit. Koskinen also serves on the boards of The AES Corporation, American Capital, and the non-profit D.C. Education Compact.

Glauber initially joined the Freddie Mac board of directors in 2006. He is a lecturer at Harvard's Kennedy School of Government and a visiting professor at the Harvard Law School. Prior to that, he served as chairman and CEO of the National Association of Securities Dealers from 2001 to 2006, after first serving as its CEO and president and a member of its board.

Freddie Mac said that its board is working with the company's conservator, the Federal Housing Finance Agency, to appoint a permanent CEO. The plan calls for Koskinen to return to the position of non-executive chairman after a permanent CEO is appointed.

McLean, Virginia-based based Freddie Mac was established by Congress in 1970 to provide mortgage capital to lenders.

FinancialWire" ( http://www.financialwire.net ), an independent, proprietary news service of Investrend Communications, Inc., receives no compensation for its news or opinions. Further disclosure is at http://www.investrend.com/articles/secondlevel.asp?level=472 . To contact FinancialWire" write to inquiries@financialwire.net .

Free annual reports for companies mentioned in the news are accessible via http://investrend.ar.wilink.com/?level=279 .

Copyright(C)2009 by financialwire.net, Inc. All rights reserved.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.