Former Freddie Mac CEO Returns

Freddie Mac is temporarily bringing back its former chief executive as the company deals with the apparent suicide of its acting chief financial officer.
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Freddie Mac

(FRE)

is temporarily bringing back its former chief executive as it deals with the apparent suicide of its acting chief financial officer.

David Moffett, the former government-appointed CEO who resigned in March, will return as a consultant to interim CEO John Koskinen. He will help Koskinen direct the finance division and oversee the production of financial statements.

"I am grateful to David for offering to assist us during this challenging time," Koskinen said in a statement. "David is well positioned to advise me in my oversight of the finance function. He knows the company well from his time as chief executive, and has built an impressive career in finance and accounting leadership as an executive with other leading public companies."

David Kellermann, 41, the company's acting chief financial officer, was found dead Wednesday in the basement of his home. Kellermann was promoted in September when the government seized Freddie Mac and ousted top executives.

In an interview with The Associated Press on Thursday, Moffett said he would "be happy to help them in any way."

Freddie Mac will continue its search for a permanent chief financial officer to lead the finance division.

Shares of the company were down 2% to 81 cents in afternoon trading.