S&P President Sharma to Leave, Replaced by Citigroup’s Petersen
Aug. 23 (Bloomberg) -- Standard & Poor's, the rating company that downgraded the U.S. AAA credit ranking for the first time, will replace President Deven Sharma with Citibank NA Chief Operating Officer Douglas Peterson.
Sharma, 55, will leave at the end of the year to "pursue other opportunities," S&P's parent McGraw-Hill Co. said in an e-mailed statement. Peterson, 53, will take over Sept. 12 and Sharma will work on company's strategic review.
S&P downgraded the U.S.'s debt rating Aug. 5, to AA+ from AAA, saying political divisions in Washington were preventing the country from tackling its fiscal deficit. The cut has drawn criticism from investors including Warren Buffett and Legg Mason Inc.'s Bill Miller, who described the move as "precipitous, wrong and dangerous" in light of stock-market selloffs.
Read full article >>
--
Source: http://feeds.washingtonpost.com/click.phdo?i=d23783fe4c77dfd3d5340a828542f6fb
~
Manage subscription | Powered by rssforward.com
