This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Sallie Mae Announces Retirement Of Albert L. Lord, Effective December 2013

Sallie Mae (NASDAQ: SLM), formally SLM Corporation, today announced that after service spanning more than 30 years, its Vice Chairman and Chief Executive Officer Albert L. Lord will retire as CEO, Vice Chairman and Director, effective Dec. 31, 2013. Sallie Mae’s Board of Directors has appointed a search committee to facilitate an effective transition and consider identified internal candidates, as well as qualified external candidates.

“My years at Sallie Mae have been many and never lacked for excitement or challenges,” said Albert L. Lord, Vice Chairman & CEO. “Together with my many associates over these years, we have accomplished much, and I take pride that we do student lending the way it should be done. Notwithstanding the devastating financial crisis of 2008/2009, Sallie Mae emerged with significantly greater financial strength and a major league roster of key managers across the company. Our capital strength and strong cash earnings brighten Sallie Mae’s future. In the months through 2013, I will work with my management team to continue our growth.”

Mr. Lord began his career with Sallie Mae in 1981 as its Controller, eight years after Sallie Mae’s creation as a federally chartered entity created to provide expanded access to education loans. He has also served as Chairman of the Board and in various executive positions at the company, including Chief Financial Officer and Chief Operating Officer. Mr. Lord returned to the company in a successful proxy contest and was central in efforts to privatize Sallie Mae in 1997 and its diversification into private education loans. Today, Sallie Mae serves over 25 million customers, has assets of $175 billion and offers products and services including college savings programs, scholarship search tools, education loans, tuition insurance, and online banking to help students and their parents save, plan, and pay for college. The company also provides financial services to hundreds of colleges, federal and state governments.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs