CFO leaving at Fannie Mae, new hire at McGraw-Hill.
By Denise Bedell
David Johnson is leaving his post as chief financial officer of government-controlled mortgage lender Fannie Mae. According to a regulatory filing, Johnson will resign by year-end.
The company - which in concert with fellow mortgage agency Freddie Mac received around $150 billion in US government funds during the worst of the financial crisis and now guarantee or own half of all US mortgages—said in the filing that Johnson’s responsibilities will be assumed on an interim basis by deputy finance chief David Hisey.
Hisey held the top job for three months at probably the worst time for the agency - between August and November 2008. Johnson came in then to take over the finance reins.
McGraw-Hill is bringing in a new CFO after current finance chief Robert Bahash was promoted. Jack Callahan, CFO of dairy producer Dean Foods, will come in as CFO as part of a larger restructuring of the publishing company.
The company will operate its Standard & Poor’s credit ratings agency as an independent entity and has created McGraw-Hill Financial to bring together S&P Indices, Capital IQ and Valuations & Risk Strategies services. Bahash took over as president of McGraw-Hill Education.
Northern Tier Energy has hired Neal Murphy as CFO of Sunoco. The energy company was formed by ACON Investments and TPG Capital to manage energy assets the two firms acquired from Marathon Petroleum.
UK pub group Punch Taverns has announced that Finance Director Phil Dutton will be leaving the company. Punch Taverns is preparing to reorganize its debt structure and recently brought in a new CEO - Ian Dyson - to manage the process.
Credit score provider FICO has promoted Michael Pung to the post of senior vice president and chief financial officer. Pung takes over from retiring CFO Thomas Bradley.
Marc Stolzman is resigning as CFO from online retailer Blue Nile. Vijay Talwar, SVP and general manager of the company’s international division will take over as interim CFO.