Former Fannie Mae CEO Daniel Mudd, who was named last month in a mortgage-related Securities and Exchange Commission fraud suit, has officially resigned from publicly traded investment manager Fortress Investment Group and its board, ending a leave of absence.
“I want to thank Fortress for the opportunity to help lead the company over the last few years. However, I do not want the uncertainty associated with a leave of absence, on my part, to become a distraction for either Fortress or its investors, and thus, I have decided to resign,” said Mudd in a statement released by the company.
Fortress principal and co-founder Randal Nardon, who stepped in as interim CEO when Mudd took his leave of absence, will continue to serve in that position.
“We regret losing Dan,” said Nardon and fellow Fortress principals Peter Briger and Wesley Edens, in a statement. “We want to thank him for his leadership and his many contributions to Fortress.”