Akwaboah will continue to oversee Fannie Mae’s COO division. He will work alongside Fannie Mae executives Brandon Hamara and John Roscoe, who have been promoted to the role of co-presidents, according to the release.
“With the addition of Peter as acting CEO and John Roscoe and Brandon Hamara as co-presidents, we now have a deep bench of three experienced leaders at the top of Fannie Mae,” said Bill Pulte, president of the Federal Agency for Housing Financingsaid a statement.
“This means a safer and healthier Fannie Mae, while growing our great Fortune 25 company.”
Michael Stucky, vice chairman of Fannie Mae’s board of directors, said the new leadership structure reflects the company’s focus on operating strength and long-term profitability.
The leadership changes also mark the departure of Priscilla Almodovar, who has been president and CEO of Fannie Mae since 2022.
“Serving as president and CEO of Fannie Mae has been the privilege of a lifetime,” said Almodovar. “Together, we have made Fannie Mae stronger than ever. I will be forever grateful to the entire Fannie Mae family, our many partners and President Pulte for the opportunity to lead this incredible organization that helps millions of American homeowners and renters access their American Dream.”
The release did not clarify whether Almodovar will retire, resign or be removed. Pulte thanked Almodovar for her service and wished her luck “in her next endeavor.”
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