Fannie's COO stepping down in April. Is she leaving because of unrealistic expectations not much accomplished due to legacy systems and highly political rotten leaders under her? Lot of mess filled with favorites leads, product owners, LMs and useless advisors in ops squads. COO needs a major surgery. Any potential internal candidates replacing her?
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The chairman sucked and was a tight little penny pincher. We've had significant amounts of attrition because of lacking wage growth as #1 reason. The "compensation committee" in their fat cat salarys (including Shelia Blairs $140K salary for just being on the board) thought that it would be prudent to trim 401K matching by 2%, and give no one any Merit/COL raises during 2020-2021 review session. She truthfully was just not managing the Firm the way it needs to be handled.
CEO leaving is more of an expected. He was a known quantity in terms of not a long term CEO. He'd already made his money (remember - he was salary capped at $600K) and was around to kiss babies and shake hands within the Upper echelons. He wasn't a key cog in running the machine, more so just helping the machine get what it needs done. The interim CEO is the one running the show and very capable.
Long story short - needed some new blood that is in tune with today's market after the great resignation, rising rates and crushing affordability of housing.
What is going on within Fannie? Chairman and CEO both leaving? Anyone has insights?