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Fannie Mae announced Sheila C. Blair will succeed Jonathan Plutzik as chair of Fannie Mae's Board of Directors, effective on Nov. 20. The Board unanimously passed a resolution that appointed Blair as chair. Fannie noted that Plutzik will remain on the Board of Directors, according to a press release.
"Sheila's deep well of experience will provide strong leadership as Fannie Mae works with the Federal Housing Finance Agency (FHFA) to exit conservatorship while simultaneously fulfilling our mission to provide access to safe, affordable mortgage financing," said Plutzik, outgoing chair of the Board.
Blair joined Fannie's Board of Directors in August 2019 and during her tenure, she served as a member of the Community Responsibility and Sustainability Committee the Nominating and Corporate Governance Committee and the Risk Policy and Capital Committee.
"Sheila is the perfect person to lead the Board and help guide the company as we continue to transition out of government control. She will help chart a course forward for the company while making sure we never forget our mission to support mortgage financing in a safe and sound manner," said Hugh R. Frater, CEO, Fannie Mae.