At Freddie, Non-Exec Chair Becomes Interim CEO

Freddie Mac Wednesday morning named its current non-executive chairman, John Koskinen, interim chief executive officer and then appointed a director, Robert Glauber, to fill Mr. Koskinen's role. Both appointments will be effective this Friday when current CEO David Moffett officially steps down from the government controlled mortgage investing giant. Mr. Koskinen is currently serving as the company's non-executive chairman, a position he's held since September when the government placed Freddie into a conservatorship. Previously he was president of the United States Soccer Foundation, and before that deputy mayor and city administrator of Washington. Mr. Glauber joined Freddie's board of directors in 2006. He is a lecturer at Harvard's Kennedy School of Government and a visiting professor at the college's law school. Prior to that, he served as chairman and CEO of the National Association of Securities Dealers. Mr. Moffett unexpectedly announced his resignation earlier this month. Freddie reports earnings later this week.