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Freddie Mac Fires President, CEO Over Questions of Honesty - 2003-06-09

U.S. mortgage finance giant Freddie Mac has fired its president and chief operating officer over what it called "serious questions" over his cooperation with auditors.

Freddie Mac said David Glenn was fired because of concerns over his candor with the auditors probing errors from a earnings restatement. The company said Monday he will be replaced by Executive Vice President Paul Peterson.

The company also said its chairman and chief executive was retiring, and the chief financial officer had resigned.