Reuters: Regulatory News: Fannie Mae names Timothy Mayopoulos CEO

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Fannie Mae names Timothy Mayopoulos CEO Jun 5th 2012, 20:53 June 5 | Tue Jun 5, 2012 4:53pm EDT June 5 (Reuters) - Fannie Mae, the largest backer of loans in the U.S. housing market, named Timothy Mayopoulos its new Chief Executive Officer. Mayopoulos will succeed Michael Williams, who had notified the company of his intention to step down earlier this year. Effective January 1, 2013, Mayopoulos's direct compensation will consist solely of base salary at the rate of $600,000 per year, Fannie Mae said in a regulatory filing.

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