Fannie CIO Leaving at Year-End

Fannie Mae has disclosed that its executive vice president and chief information officer, Julie St. John -- who is playing a key role in its restructuring -- will leave the GSE at year-end.In a filing with the Securities and Exchange Commission, Fannie said Ms. St. John had wanted to leave sooner but agreed to defer her departure date. Fannie says Ms. St. John has been taking a "lead role" in the company's restructuring of its enterprise systems and operations division. A 16-year veteran of Fannie Mae, she has been with the government-sponsored enterprise for 16 years and is entitled to $794,463 in severance, and options to purchase 34,429 shares of stock. The GSE is working its way through a massive accounting scandal that will force it to restate prior earnings downward by about $10.6 billion. Fannie Mae can be found on the Web at http://www.fanniemae.com.