Fannie Mae Says Two Top Execs Step Down
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U.S. mortgage finance giant Fannie  Mae FNM.N confirmed late on Tuesday that embattled Chief  Executive Franklin Raines and Chief Financial Officer Timothy  Howard were stepping down after accounting errors that are  expected to force a massive earnings restatement.
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Under pressure from regulators, Fannie Mae&#39;s (FNM:NYSE - news - research) board ousted its top two executives in the midst of a deepening accounting scandal.
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In a move Citigroup Inc. said was aimed at broadening the experience of up-and-coming executives, two of its top managers are swapping jobs.
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Two regulatory agencies have concluded that Fannie Mae cut corners when it came to its accounting, severely damaging its image.
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Fannie Mae, the mortgage finance giant, forced out its chairman and chief executive, days after the company was found to have violated accounting rules.
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US mortgage finance giant Fannie Mae (FNM.N: Quote, Profile, Research) , which on Tuesday removed removed two top executives over major accounting problems
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NEW YORK - The board of embattled mortgage finance enterprise Fannie Mae met on Sunday and has apparently decided that Chief Financial Officer Timothy Howard will step down, the Wall Street Journal reported on Monday.
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WASHINGTON (CBS.MW) -- Fannie Mae is turning its focus to shoring up its capital levels Wednesday after two of its top executives left the company under pressure following an accounting scandal.
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The stock sale pricing announcement comes eight days after Franklin Raines stepped down as Fannie Maeâs chief executive and Timothy Howard stepped down as its finance chief.
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After a big drop in subscribers and planned layoffs, Sprint Nextel's top financial, marketing, and sales executives are leaving the company.
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Two top executives at building products group James Hardie Industries have resigned in the wake of a scandal about the company&#39;s treatment of thousands of people poisoned by asbestos that it made.
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Fannie Mae, the giant mortgage finance company, agreed yesterday to abandon accounting methods that its regulator criticized last week as being used to manipulate financial results.
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Under pressure from regulators, Fannie Mae ousted chief executive Franklin D. Raines and Chief Financial Officer J. Timothy Howard and replaced KPMG as its auditor.
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Fannie Mae's regulator has not approved the financial terms of the exits of two top executives and the men won't get that money until investigations of the company's finances are completed, one of the company's congressional overseers said Wednesday.
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Chairman and CEO Raines and CFO Howard depart Fannie Mae, with interim successors named. We view this as a positive for Fannie Mae, and see an improved relationship with regulator Office of Federal Housing
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ComcastÂs two longtime chief financial officers will retire next year and will be succeeded by an executive from a private equity firm.
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Fannie Mae's FNM.N regulator is  investigating the severance payments and bonuses of two top  executives who stepped down earlier this week, the Wall Street  Journal reported on Thursday.