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Thread: Freddie Mac Acting CFO David Kellermann Found Dead

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[quote=MARRIE,364835]Kellermann had one daughter, according to Roger Beatty, who lives across the street and knew the family since Kellermann bought his house about 10 years ago. His wife was in the house at the time of death, according to Fairfax County police.

“He was a good father,” Beatty said. “He was the kind of man you want as a neighbor.”

John Koskinen, Freddie’s interim chief executive officer, visited the home today, according to police. In a written statement, Koskinen said he was saddened by the news and lauded Kellermann’s “extraordinary work ethic and integrity.”

Freddie held a town hall meeting at 11 a.m. at company headquarters and a Webcast for regional offices.

“Koskinen talked about David’s spectacular contributions he made to Freddie Mac and encouraged employees to support each other in this difficult time,” Duvall said.

Bonus, Stock

Kellermann, who joined Freddie in 1992, was promoted from controller to acting CFO after the government takeover in September, which was prompted by record losses amid the worst housing slump since the Great Depression. As controller, Kellermann was the principal accounting officer, dealing with financial statements and disclosures, according to Freddie’s Web site.

He was awarded an $850,000 retention bonus to stay with the company after the government takeover, according to a Sept. 30 securities filing. The company paid $170,000 of that in December, with the rest scheduled to be paid out in three more installments through March 2009, the filing shows.

Kellermann owned 38,861 Freddie shares as of April 11 valued at $33,420, according to data compiled by Bloomberg. Freddie’s market value has slumped from $22 billion at the beginning of 2008 to about $2.6 billion. The shares, which have been trading at less than $1 since December, were worth more than $30 each in March 2008.

‘Standout’ in Accounting 
[/quote]

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