logo
Share SHARE
FONT-SIZE Plus   Neg

Sallie Mae Announces Retirement Of Albert Lord As CEO, Vice Chairman

Sallie Mae (SLM), formally SLM Corporation, announced that its Vice Chairman and Chief Executive Officer or CEO Albert Lord will retire as CEO, Vice Chairman and Director, effective Dec. 31, 2013.

Sallie Mae said that its Board of Directors has appointed a search committee to facilitate an effective transition and consider identified internal candidates, as well as qualified external candidates.

Commenting on Lord, the company stated that he 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.

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, the company said.

Sallie Mae's Board of Directors acknowledges their deep gratitude to Lord for his long and tireless commitment to Sallie Mae, his return to the company as Chief Executive Officer to lead Sallie Mae through the 2008 financial crisis, and his important role in guiding the company through the transition to new leadership.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
IT services provider Computer Sciences Corp (CSC), on Tuesday reported a profit for the third quarter that also trumped estimates, helped largely by lower operating costs that offset 10 percent drop in revenues. Commenting on the results Mike Lawrie said, "In the third quarter, CSC successfully completed... Entertainment giant Walt Disney Co. (DIS) Tuesday reported an increase in first-quarter profit that also trumped Wall Street expectations, as revenues jumped 14 percent on stupendous performance of Star Wars: The Force Awakens. Burbank, California-based Disney's first-quarter profit rose to $2.88... Media conglomerate Viacom, Inc. on Tuesday reported a 10 percent decline in profit for the first quarter from last year, reflecting lower revenues in the Filmed Entertainment and Media Networks segments. However, adjusted earnings per share for the quarter matched analysts' expectations, while revenues missed their estimates.
comments powered by Disqus
RELATED NEWS
Trade SLM now with 
Follow RTT