Fannie Mae Vice Chair to step down

January 10, 2003

Jamie Gorelick to pursue commission investigating terrorist attacks

Inman News Features

Fannie Mae's Vice Chair Jamie Gorelick said she will step down from her position at the company on July 1 in order to devote more time to the bipartisan national commission investigating the attacks of September 11, 2001, and to pursue other interests.

The company also reported that its Chief Financial Officer Timothy Howard will succeed Gorelick as vice chair, and will be nominated to be elected to the Board of Directors at the annual meeting in May.

Gorelick joined the company in May 1997 as vice chair, sharing responsibility for the overall management of the company. She directed efforts to reach underserved markets and has overseen Fannie Mae's external relationships, legal and regulatory affairs.

Prior to joining Fannie Mae, Gorelick was Deputy Attorney General of the United States, a position she assumed in March 1994. From May 1993 until she joined the Justice Department, Gorelick served as General Counsel of the Department of Defense, and from 1979 to 1980, she was Assistant to the Secretary and Counselor to the Deputy Secretary of Energy.

Gorelick also currently serves on a number of corporate and non-profit boards.

In his new role as vice chair, Howard will have responsibility for Fannie Mae's mortgage portfolio business, corporate risk management and corporate financial management.

Howard joined the company in 1982 and became CFO in 1990. In addition to Howard, the Office of the Chairman includes Raines, and Daniel H. Mudd, vice chairman and COO.

Fannie Mae is a New York Stock Exchange company operating pursuant to a federal charter.

Copyright: Inman News Service

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