Freddie Mac, the second-largest mortgage provider in the country, announced that chief financial officer Martin Baumann has resigned.The company is still recovering from an accounting scandal, and recently announced that it would delay filing its 2005 financials by two months. Freddie Mac's president and chief operating officer, Eugene McQuade, will assume Baumann's responsibilities while the company looks for a permanent successor.

In a statement, Baumann gave no reason for his departure. He joined the company in March 2003 as executive vice president for finance after a 30-year career at PricewaterhouseCoopers. He was named Freddie Mac's chief financial officer three months later.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access