"Long-planned and my own initiation"

Sir - While the timing of my departure from Standard & Poor's apparently confounded some analysts of the news, I can assure you that the decision to step down as president of S&P was carefully considered, long-planned and of my own initiation.

Contrary to the suggestion in "Sub-prime to the ridiculous," (Financial Director, October), there was no sword to fall on. Making a change in one's career after 25 years in the financial markets - the last 13 as a working mother - is not an easy decision, nor can it be perfectly timed to credit market cycles.

Nevertheless, my family is pleased with my decision and I am pleased to have had the privilege of serving S&P.

Kathleen A. Corbet, former president, Standard & Poor's