Fannie Mae- Timothy Mayopoulos
Why this is a Big Quit:
Timothy Mayopoulos is leaving Fannie Mae (6 Years as CEO) after leading the behemoth mortgage financing firm (Fortune #21) to financial stability post-housing-crash of 2008. He brought the firm to be profitable, while paying the billions of dollars Fannie Mae received in bailouts from the federal government.
It arrives at a time where the company faces unusually declining demand for chicken and falling meat prices. During his tenure, Hayes was able to beef up some of Tyson’s presence in prepared foods by acquiring several companies, including Keystone Foods, the supplier of McDonald’s chicken nuggets.
Why this is not as big as the Top 10:
What’s love got to do it with it? Well for Mayopoulous it may, especially on the nature of his romantic relationship with an executive at TransUnion.
According to FHFA Inspector report, he allowed the potential conflict of interest in a credit scoring project, that could have benefitted TransUnion. Tim claims that he did recuse himself, but Fannie Mae announced that Tim would step down by end of 2018 and the credit scoring project was “coincidentally” dropped.