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22 Apr 2009
By Andrew Sawers
Freddie Mac's acting chief financial officer David Kellerman, age 41, has been found dead at his home in Virginia. Reports quote police sources saying there are no suspicious circumstances. The Washington Post describes his death as an apparent suicide.
Kellerman was promoted from controller and principal accounting officer to the role of acting CFO at the beleaguered federal mortgage group in September after his predecessor, Anthony Piszel was fired without compensation. Kellerman had been with Freddie Mac for 16 years. He was the group's fifth CFO in little more than eight years.
Interim CEO John Koskinen paid tribute to Kellerman, citing his " extraordinary work ethic and integrity". Pricing of an issue of five-year notes that was supposed to have taken place today was postponed for at least one day. The share price fell 8% today to 79 cents, making a 97% fall over the course of the last year.
See: Taking stocks: Finance chiefs have a lot to answer for
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