Freddie Mac (OTCQB: FMCC) announced the appointment of Kenny M. Smith as CEO, effective today. He also will serve as a member of the company’s board of directors.
The previous CEO, Biden-appointee Diane Reid, was fired in March by Bill Pulte, the Federal Housing Finance Agency director who self-appointed himself as Freddie Mac’s chairman of the board. Michael Hutchins, who served as interim CEO following Reid’s dismissal, will continue in his role as president.
Smith comes to Freddie Mac after 27 years at Deloitte Consulting LLP in numerous positions, including five years as vice chairman, US financial services industry leader. While at Deloitte, he also served as global lead client service partner for Wells Fargo & Company from 2008 to 2019, advising management on a wide variety of company matters.
“Kenny Smith’s background and decades of experience in financial services will be an asset to Freddie Mac as we continue to meet the needs of homeowners, renters and the industry in 2026 and beyond.” said Hutchins
