Politics

Freddie Mac Says to Replace New CEO

WASHINGTON -- Freddie Mac's board of directors will replace Chief Executive Greg Parseghian after a successor is found, the mortgage finance company says. Freddie Mac's board has also agreed to remove General Counsel Maud Mater under orders from its regulator, the Office of Federal Housing Enterprise Oversight (OFHEO). The shake-up is further fallout from an accounting scandal that caused the company to replace its senior management, including Parseghian's predecessor Leland Brendsel, in June. Posted by Editor at August 23, 2003 10:55 PM