Fannie Mae Names Former PricewaterhouseCoopers Partner and Financial Services Veteran Michael Seelig to the Board of Directors

Rhea-AI Summary

On March 15, 2023, Fannie Mae (OTC: FNMA) announced the appointment of Michael Seelig to its Board of Directors and the Audit Committee. Seelig brings over 35 years of experience in financial services, having previously served as a senior executive at PricewaterhouseCoopers. His extensive background in financial management, risk management, and corporate governance is expected to enhance the board’s diversity and efficacy. Chair Michael J. Heid and CEO Priscilla Almodovar expressed confidence in Seelig's capabilities to further Fannie Mae's mission to improve access to homeownership and affordable rental housing across the U.S.

Positive

• Michael Seelig's extensive financial services experience enhances the Board's expertise.
• Seelig's appointment may strengthen strategic decision-making within the organization.

Negative

• None.

WASHINGTON, March 15, 2023 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced that Michael Seelig has been appointed to the Board of Directors and will serve on the Audit Committee. Mr. Seelig joins a diverse and accomplished Board that will help Fannie Mae fulfill its mission to facilitate equitable and sustainable access to homeownership and quality affordable rental housing across America.

"We are very pleased to welcome Mike to the Fannie Mae Board of Directors," said Michael J. Heid, Chair of the Board. "We will benefit greatly from his deep experience and robust financial management and reporting, risk management, and business strategy expertise." 

"Mike is another strong addition to our exceptional Board of Directors. His extensive financial services experience and strong leadership qualities are a great complement to those of his peers on the Board," said Priscilla Almodovar, Chief Executive Officer, Fannie Mae. "Mike will help guide us as we continue advancing our mission to address the needs of homeowners and renters by providing financing to the residential mortgage market in a safe and sound manner."

Mr. Seelig was a senior executive at PricewaterhouseCoopers LLP, where he was a partner from 1997 until his retirement in September 2022. Mr. Seelig has over 35 years of diverse experience principally serving clients in the financial services industry. In addition to helping companies navigate risk, regulatory, mergers and acquisitions, financial reporting, corporate governance, and strategy matters, Mr. Seelig served in a variety of leadership roles within PricewaterhouseCoopers, where he was responsible for driving various aspects of the firm's strategy and operations in several national, market, and sector-based capacities.

Mr. Seelig is a licensed certified public accountant and a member of the American Institute of Certified Professional Accountants, or AICPA. Mr. Seelig currently serves or has served as a trustee or member of the Board of a number of civic, educational, and faith-based organizations.

About Fannie Mae
Fannie Mae advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America. We enable the 30-year fixed-rate mortgage and drive responsible innovation to make homebuying and renting easier, fairer, and more accessible. To learn more, visit:
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Fannie Mae Newsroom
https://www.fanniemae.com/news

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Fannie Mae Resource Center
1-800-2FANNIE (800-232-6643)

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SOURCE Fannie Mae

FAQ

Who is Michael Seelig and what is his role at Fannie Mae?

Michael Seelig has been appointed to the Board of Directors of Fannie Mae and will serve on the Audit Committee.

What experience does Michael Seelig bring to Fannie Mae?

He has over 35 years of experience in financial services, previously serving as a senior executive and partner at PricewaterhouseCoopers.

When was Michael Seelig appointed to the Fannie Mae Board?

Michael Seelig was appointed to the Fannie Mae Board on March 15, 2023.

How might Michael Seelig's appointment affect Fannie Mae's operations?

His expertise in financial management and risk can enhance strategic decision-making as Fannie Mae works to fulfill its mission.