Freddie Mac announces Michael DeVito to retire as CEO

Freddie Mac has announced that Michael J. DeVito plans to retire as CEO in the first quarter 2024.

The Board of Directors will begin a search for a successor, and a smooth transition is anticipated.

“We are very saddened to hear of Michael’s departure, and the board expresses its profound appreciation for his strong leadership and his many other contributions to Freddie Mac,” said Sara Mathew, chair of Freddie Mac’s Board of Directors. “Above all, Michael demonstrated a true passion for the company’s mission and drove meaningful progress in making home possible for homebuyers and renters in communities across the nation.”