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 user 2013-06-23 at 4:44:56 am Views: 83
  • #2152

    Mulcahy resigns from Fannie Mae Board


    U.S. Mortgage finance giant Fannie Mae , whose accounting practices are under review by regulators, said on Tuesday that Anne Mulcahy resigned from the company's board effective Oct. 19.

    Mulcahy, who is the chief executive of Xerox , informed the company of her intent to step down Sept. 17, Fannie Mae said in a filing with the Securities and Exchange Commission.

    Mulcahy told Fannie Mae in her resignation letter she was quitting the company's board due to conflicts with board meetings at Citigroup, which named Mulcahy as a director on Monday, effective immediately.

    Regulators are combing over Fannie Mae's bookkeeping after an accounting scandal at sibling mortgage finance firm Freddie Mac last year

    * Post was edited: 2004-09-26 10:37:00